Lehman Bros Australia Ltd [2008] NSWSC 1132

Lehman Bros Australia Ltd [2008] NSWSC 1132

The complexity of the companies' affairs, the need to assess intercompany debts, creditor claims, and property interests, and the absence of prejudice to stakeholders due to the statutory moratoriums justify the extension of the convening period for the second creditors' meeting.

Jurisdiction
Australia
Judgment Date
23 October 2008
Procedural Posture
Corporations Voluntary Administration Extension of Time for Second Meeting of Creditors / Application for Extension of Convening Period
Outcome
Orders made as sought for extension of the convening period for each company.
Legal Topics
['voluntary Administration' 'extension of Convening Period' 'second Meeting of Creditors']
['corporations Law' 'insolvency'] ['voluntary Administration' 'extension of Convening Period' 'second Meeting of Creditors']

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Procedural Posture

Corporations Voluntary Administration Extension of Time for Second Meeting of Creditors / Application for Extension of Convening Period

Legal Issues

  1. 1 ['Whether the convening period for the second meeting of creditors should be extended under s 439A(6) of the Corporations Act 2001 (Cth)']

Ratio Decidendi

The complexity of the companies' affairs, the need to assess intercompany debts, creditor claims, and property interests, and the absence of prejudice to stakeholders due to the statutory moratoriums justify the extension of the convening period for the second creditors' meeting.

Court Disposition

Orders made as sought for extension of the convening period for each company.

Orders

  • ['Order extending convening period for each company' 'Order that the second affidavit of Mr Singleton (13 paragraphs) be kept confidential and placed in the court file in a confidential envelope' "Originating process stood over to the Registrar's list on 5 February 2009" "Plaintiffs have liberty to apply on 48...