Re Envirostar Energy Ltd [2002] NSWSC 1246
In light of the administrators’ progress toward a sale, the complication arising from the insolvency of a key contractor, and supported by authority and the power conferred by s.447A, the extension of the convening period is appropriate to enable a meaningful proposal for creditors.
- Jurisdiction
- Australia
- Judgment Date
- 19 December 2002
- Procedural Posture
- Corporations Voluntary Administration / Application for Second Extension of Convening Period
- Outcome
- Application granted; convening period extended to 21 February 2003
- Legal Topics
- ['voluntary Administration' 'extension of Convening Period' 'operation of Pt 5.3 a of Corporations Act']
Case Brief
Summary, issues, holding and outcome
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Procedural Posture
Corporations Voluntary Administration / Application for Second Extension of Convening Period
Legal Issues
- 1 ['Whether the court should grant a further extension of the convening period for the second meeting of creditors under the Corporations Act 2001 (Cth)' 'Whether s.447A permits an order varying the convening period applicable under s.439A']
Ratio Decidendi
In light of the administrators’ progress toward a sale, the complication arising from the insolvency of a key contractor, and supported by authority and the power conferred by s.447A, the extension of the convening period is appropriate to enable a meaningful proposal for creditors.
Court Disposition
Application granted; convening period extended to 21 February 2003
Orders
- ['Order pursuant to s.447A of the Corporations Act 2001 (Cth) that s.439A operates as if the convening period was the period ending on 21 February 2003']
Full Case Text
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