Allban & Sons Pty Ltd (Administrator Appointed) [2002] NSWSC 870

Allban & Sons Pty Ltd (Administrator Appointed) [2002] NSWSC 870

The Court dispensed with advertisement because there had been substantial notification of the meeting to interested persons, including attendance of about 15 creditors at the first creditors' meeting and circulation of the administrator's report and notice to a larger number of creditors, while adjournment to permit advertisement would have little point and cause further expense in circumstances where the company was hopelessly insolvent and liquidation was recommended.

Jurisdiction
Australia
Judgment Date
17 September 2002
Procedural Posture
Application by Company in Voluntary Administration Under Corporations Act 2001 (cth) S 447 A, Alternatively S 1322 / Application for Dispensation With Advertisement of Second Creditors' Meeting
Outcome
Order made dispensing with advertisement of second creditors' meeting.
Legal Topics
['voluntary Administration' "second Creditors' Meeting" 'court Power to Make Orders' 'dispensation With Advertisement']
['corporations'] ['voluntary Administration' "second Creditors' Meeting" 'court Power to Make Orders' 'dispensation With Advertisement']

Case Brief

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Procedural Posture

Application by Company in Voluntary Administration Under Corporations Act 2001 (cth) S 447 A, Alternatively S 1322 / Application for Dispensation With Advertisement of Second Creditors' Meeting

Legal Issues

  1. 1 ["Whether the Court should dispense with the requirement in Corporations Act 2001 (Cth) s 439A(3)(b) to cause a second creditors' meeting of a company in administration to be advertised." 'Whether the order should be made under s 447A, alternatively s 1322, of the Corporations Act 2001 (Cth).']

Ratio Decidendi

The Court dispensed with advertisement because there had been substantial notification of the meeting to interested persons, including attendance of about 15 creditors at the first creditors' meeting and circulation of the administrator's report and notice to a larger number of creditors, while adjournment to permit advertisement would have little point and cause further expense in circumstances where the company was hopelessly insolvent and liquidation was recommended.

Court Disposition

Order made dispensing with advertisement of second creditors' meeting.

Orders

  • ["Order made dispensing with advertisement of second creditors' meeting."]