In the matter of Ansett Australia Limited and Mentha [2002] FCA 1

In the matter of Ansett Australia Limited and Mentha [2002] FCA 1

The Court has power under ss 447A and 449E to fix administrators' remuneration on an interim basis prior to the convening of a meeting of creditors under s 439A, given the complexity and duration of the administration and the necessity of work undertaken. The fixing of further remuneration by Committees of Creditors with seven days' notice and adequate information is appropriate, subject to Court review.

Jurisdiction
Australia
Judgment Date
04 January 2002
Procedural Posture
Corporations Law Application / Interim Order for Remuneration of Administrators
Outcome
Application granted
Legal Topics
["administrators' Remuneration" 'court Powers Under Corporations Act' 'committees of Creditors' 'external Administration']
['corporations Law' 'insolvency'] ["administrators' Remuneration" 'court Powers Under Corporations Act' 'committees of Creditors' 'external Administration']

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Procedural Posture

Corporations Law Application / Interim Order for Remuneration of Administrators

Legal Issues

  1. 1 ['Whether the Court can fix interim remuneration of administrators prior to meeting of creditors under s 439A' "Appropriate process for setting administrators' remuneration for period before creditor resolution" "Appropriate weighting of Committee of Creditors' resolution when information not previously circulated"]

Ratio Decidendi

The Court has power under ss 447A and 449E to fix administrators' remuneration on an interim basis prior to the convening of a meeting of creditors under s 439A, given the complexity and duration of the administration and the necessity of work undertaken. The fixing of further remuneration by Committees of Creditors with seven days' notice and adequate information is appropriate, subject to Court review.

Court Disposition

Application granted

Orders

  • ['Court fixed interim remuneration for administrators for period 17 September 2001 to 15 October 2001 as specified for each company' 'Administrators entitled to further remuneration as fixed by Committees of Creditors after adequate notice and information' 'Costs of application to be costs in administration of each...