Macintosh, Alexander Robert Mackay v Minprop Australia NL & Ors [1995] FCA 1104

Macintosh, Alexander Robert Mackay v Minprop Australia NL & Ors [1995] FCA 1104

The Court should extend the time under subsec439B(2) because s447A empowers it to do so and, on the facts, the extension was necessary to enable a potentially beneficial arrangement for creditors to be finalised rather than for an improper purpose such as keeping creditors at bay.

Jurisdiction
Australia
Judgment Date
26 June 1995
Procedural Posture
Application for Orders Extending the Time for Adjournment of a Creditors' Meeting Convened Under S439 a of the Corporations Law / Reasons for Judgment and Orders
Outcome
Application granted; time for adjournment of the meeting extended and ancillary orders made.
Legal Topics
['voluntary Administration' "creditors' Meetings" 'adjournment of Meetings' 'extension of Statutory Time Limits' 'court Power Under S447 a of the Corporations Law']
['corporations Law' 'insolvency Law'] ['voluntary Administration' "creditors' Meetings" 'adjournment of Meetings' 'extension of Statutory Time Limits' 'court Power Under S447 a of the Corporations Law']

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Procedural Posture

Application for Orders Extending the Time for Adjournment of a Creditors' Meeting Convened Under S439 a of the Corporations Law / Reasons for Judgment and Orders

Legal Issues

  1. 1 ['Whether the Court should extend the time provided for in subsec439B(2) for adjournment of a meeting convened under s439A beyond 60 days after the first day on which the meeting was held.' 'Whether s447A of the Corporations Law empowers the Court to make orders extending the maximum period fixed by subsec439B(2).']

Ratio Decidendi

The Court should extend the time under subsec439B(2) because s447A empowers it to do so and, on the facts, the extension was necessary to enable a potentially beneficial arrangement for creditors to be finalised rather than for an improper purpose such as keeping creditors at bay.

Court Disposition

Application granted; time for adjournment of the meeting extended and ancillary orders made.

Orders

  • ['Leave granted to the applicant to file the application and supporting affidavit dated 26 June 1995 in Court on the undertaking that the appropriate fees will be paid by or through the solicitor for the applicant.' 'The time provided for in subsec439B(2) for the adjournment of a meeting convened under s439A is...