AE&E Australia Pty Limited (Administrators Appointed), in the matter of AE&E Australia Pty Limited (Administrators Appointed) (No 2) [2011] FCA 314

AE&E Australia Pty Limited (Administrators Appointed), in the matter of AE&E Australia Pty Limited (Administrators Appointed) (No 2) [2011] FCA 314

Given detailed reasons regarding ongoing negotiations, anticipated creditor advantages, and committee support, the Court found it appropriate to extend the convening period for the second meeting of creditors to 15 April 2011.

Parties
Plaintiff: AE&E Australia Pty Limited (Administrators Appointed)
Jurisdiction
Australia
Judgment Date
18 February 2011
Procedural Posture
Voluntary Administration Application / Extension of Convening Period for Second Meeting of Creditors
Outcome
extension of convening period granted
Legal Topics
Extension of Convening Period, Voluntary Administration, Meeting of Creditors
Corporate Insolvency Extension of Convening Period Voluntary Administration Meeting of Creditors

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Parties

AE&E Australia Pty Limited (Administrators Appointed)

Plaintiff

Procedural Posture

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

Legal Issues

  1. 1 Whether the period to convene the second meeting of creditors in voluntary administration should be extended

Ratio Decidendi

Given detailed reasons regarding ongoing negotiations, anticipated creditor advantages, and committee support, the Court found it appropriate to extend the convening period for the second meeting of creditors to 15 April 2011.

Court Disposition

extension of convening period granted

Orders

  • The period for convening the second meeting of creditors is extended so that it ends on 15 April 2011.
  • Part 5.3A of the Act is to operate so that the plaintiffs may convene the second meeting at any time during or within 5 business days of the end of the convening period as extended.