Carson, in the matter of Hastie Group Limited [2012] FCA 626

Carson, in the matter of Hastie Group Limited [2012] FCA 626

Given the size, complexity and decentralised administration of the Hastie Group, the Administrators' recent appointment, the difficulty in identifying property and creditors, the lack of available cash, and the cost savings from alternative notice, it was appropriate under s 447A to modify the operation of Part 5.3A by extending the time limits in ss 443B(2)(a), 443B(3) and 436E(2), and by modifying the notice requirements in s 436E(3).

Jurisdiction
Australia
Judgment Date
29 May 2012
Procedural Posture
Application Under S 447 a of the Corporations Act 2001 (cth) / Orders Made on 29 May 2012
Outcome
Application granted; orders made modifying the operation of Part 5.3A of the Corporations Act 2001 (Cth).
Legal Topics
['voluntary Administration' 'modification of Operation of Part 5.3 A' 'administrator Liability for Leased or Third Party Property' 'first Meeting of Creditors' 'notice to Creditors']
['corporations Law' 'insolvency Law'] ['voluntary Administration' 'modification of Operation of Part 5.3 A' 'administrator Liability for Leased or Third Party Property' 'first Meeting of Creditors' 'notice to Creditors']

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Procedural Posture

Application Under S 447 a of the Corporations Act 2001 (cth) / Orders Made on 29 May 2012

Legal Issues

  1. 1 ['Whether the Court should modify the time allowed in ss 443B(2)(a) and 443B(3) of the Corporations Act 2001 (Cth) from 5 business days to 20 business days for the plaintiff companies.' 'Whether the Court should modify the time allowed in s 436E(2) of the Corporations Act 2001 (Cth) from 8 business days to 13 business days for the plaintiff companies.' "Whether the Court should modify the requirement to issue notice under s 436E(3) so that notice of the first meeting of creditors may be given by email where known, publication in The Australian newspaper, and placement on the Administrators' website."]

Ratio Decidendi

Given the size, complexity and decentralised administration of the Hastie Group, the Administrators' recent appointment, the difficulty in identifying property and creditors, the lack of available cash, and the cost savings from alternative notice, it was appropriate under s 447A to modify the operation of Part 5.3A by extending the time limits in ss 443B(2)(a), 443B(3) and 436E(2), and by modifying the notice requirements in s 436E(3).

Court Disposition

Application granted; orders made modifying the operation of Part 5.3A of the Corporations Act 2001 (Cth).

Orders

  • ['The plaintiffs have leave to file an Originating Process in the form initialled and dated by Emmett J, to be returnable instanter before Emmett J.' 'Pursuant to s 447A(1) of the Corporations Act 2001 (Cth), in respect of each of Hastie Group Limited and the companies set out in Schedule 1, the time allowed in ss...