Scott, in the matter of Tzukuri Pty Ltd (Administrators Appointed) ACN 168 417 721 [2018] FCA 16

Scott, in the matter of Tzukuri Pty Ltd (Administrators Appointed) ACN 168 417 721 [2018] FCA 16

An extension of the convening period is justified where it is in the best interests of creditors to allow administrators sufficient time to realise company assets and where no objections are raised by creditors or ASIC; a non-publication order is appropriate to protect confidential information essential to the sale process and proper administration.

Jurisdiction
Australia
Judgment Date
23 January 2018
Procedural Posture
Corporations Application by Administrators / Interlocutory Application for Extension of Time and Non Publication Order
Outcome
Application granted
Legal Topics
['extension of Convening Period Under S 439 A(6) Corporations Act 2001 (cth)' 'non Publication Order Under S 37 AF Federal Court of Australia Act 1976 (cth)']
['corporations Law' 'corporate Insolvency'] ['extension of Convening Period Under S 439 A(6) Corporations Act 2001 (cth)' 'non Publication Order Under S 37 AF Federal Court of Australia Act 1976 (cth)']

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Procedural Posture

Corporations Application by Administrators / Interlocutory Application for Extension of Time and Non Publication Order

Legal Issues

  1. 1 ['Whether the convening period for the meeting of creditors should be extended under s 439A(6) of the Corporations Act 2001 (Cth)' 'Whether a non-publication order should be made under s 37AF of the Federal Court of Australia Act 1976 (Cth)']

Ratio Decidendi

An extension of the convening period is justified where it is in the best interests of creditors to allow administrators sufficient time to realise company assets and where no objections are raised by creditors or ASIC; a non-publication order is appropriate to protect confidential information essential to the sale process and proper administration.

Court Disposition

Application granted

Orders

  • ['Extension of convening period up to and including 30 April 2018 under s 439A(6) of the Corporations Act 2001 (Cth)' 'Pt 5.3A of the Act operates as if the meeting may be convened and held at any time during the extended period and five business days thereafter' 'Provision for applications to vary the orders by...