White (Administrator), in the matter of Calidus Resources Limited (Receivers and Managers Appointed) (Administrators Appointed) [2024] FCA 827

White (Administrator), in the matter of Calidus Resources Limited (Receivers and Managers Appointed) (Administrators Appointed) [2024] FCA 827

The Court granted a six-month extension for convening the second meeting of creditors, finding the administration to be large and complex, with a joint sale process and no stakeholder opposition. The extension will benefit creditors by allowing an orderly process and is justified by the administrators' evidence and prevailing legal principles.

Jurisdiction
Australia
Judgment Date
26 July 2024
Procedural Posture
Application / Extension of Convening Period for Second Meeting of Creditors
Outcome
Extension granted
Legal Topics
['administration' 'extension of Convening Period' 'joint Sale Process' 'daisytek Order']
['corporate Insolvency'] ['administration' 'extension of Convening Period' 'joint Sale Process' 'daisytek Order']

Case Brief

Summary, issues, holding and outcome

More case intelligence is available

Unlock the full research layer for this judgment.

Full judgment text Downloadable case file Legal principles 1 Authorities cited 2 Party arguments 2 Amounts and remedies 1
Sign in to unlock

Procedural Posture

Application / Extension of Convening Period for Second Meeting of Creditors

Legal Issues

  1. 1 ['Whether a six-month extension for convening the second meeting of creditors should be granted' 'Whether a Daisytek order is appropriate to facilitate flexibility in the timing of meetings']

Ratio Decidendi

The Court granted a six-month extension for convening the second meeting of creditors, finding the administration to be large and complex, with a joint sale process and no stakeholder opposition. The extension will benefit creditors by allowing an orderly process and is justified by the administrators' evidence and prevailing legal principles.

Court Disposition

Extension granted

Orders

  • ['Period for convening the second meeting of creditors of each company extended to midnight on 28 January 2025' 'Second meetings may be held concurrently and within five business days after the extended convening period, provided notice is given in accordance with r 75-225 of the Insolvency Practice Rules...