Sheahan re Cedenco JV Australia Pty Ltd [2010] NSWSC 592

Sheahan re Cedenco JV Australia Pty Ltd [2010] NSWSC 592

Because the administrators had published a newspaper notice but had not taken action to give creditors written notice of the meeting, only one of the two steps required by s 439A(3) had been implemented. The second meeting of creditors had therefore not been convened, and it was open to the administrators to seek, and to the court to grant, an extension of the convening period under s 439A(6).

Jurisdiction
Australia
Judgment Date
02 June 2010
Procedural Posture
Application by Voluntary Administrators for an Order Extending the Convening Period for the Second Meeting of Creditors Under S 439 A(6) of the Corporations Act 2001 (cth) / Ex Tempore Judgment; Order Extending Convening Period
Outcome
Order extending convening period
Legal Topics
['voluntary Administration' 'second Meeting of Creditors' 'extension of Convening Period' 'convening by Notice']
['corporations' 'insolvency'] ['voluntary Administration' 'second Meeting of Creditors' 'extension of Convening Period' 'convening by Notice']

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Procedural Posture

Application by Voluntary Administrators for an Order Extending the Convening Period for the Second Meeting of Creditors Under S 439 A(6) of the Corporations Act 2001 (cth) / Ex Tempore Judgment; Order Extending Convening Period

Legal Issues

  1. 1 ['Whether the court could extend the convening period under s 439A(6) where the administrators had caused newspaper notice of the meeting to be published but had not given written notice to creditors.' 'Whether the second meeting of creditors had already been convened for the purposes of s 439A.']

Ratio Decidendi

Because the administrators had published a newspaper notice but had not taken action to give creditors written notice of the meeting, only one of the two steps required by s 439A(3) had been implemented. The second meeting of creditors had therefore not been convened, and it was open to the administrators to seek, and to the court to grant, an extension of the convening period under s 439A(6).

Court Disposition

Order extending convening period

Orders

  • ['Order under s 439A(6) of the Corporations Act 2001 (Cth) extending the convening period for the second meeting of creditors in the Part 5.3A administration of Cedenco JV Australia Pty Limited, SK Foods Pty Limited and SS Farms Australia Pty Limited.']