Goyal, in the matter of Tree Minders Pty Ltd (Administrators Appointed) [2017] FCA 725

Goyal, in the matter of Tree Minders Pty Ltd (Administrators Appointed) [2017] FCA 725

The administrators’ need for additional time is consistent with the object and purpose of the Corporations Act Pt 5.3A, and the extension allows the administrators to complete necessary investigations and tasks to facilitate the best possible outcome for creditors, without opposition from major creditors.

Parties
Administrator: Rahul Goyal; Administrator: Bryan Webster; Company: Tree Minders Pty Ltd (Administrators Appointed)
Jurisdiction
Australia
Judgment Date
09 June 2017
Procedural Posture
Corporate Insolvency Administration / Application for Extension of Convening Period for Second Creditors’ Meeting
Outcome
application granted
Legal Topics
Convening Period Extension, Administration of Insolvent Companies, Creditors' Meetings
Corporate Insolvency Convening Period Extension Administration of Insolvent Companies Creditors' Meetings

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Parties

Rahul Goyal

Administrator

Bryan Webster

Administrator

Tree Minders Pty Ltd (Administrators Appointed)

Company

Procedural Posture

Corporate Insolvency Administration / Application for Extension of Convening Period for Second Creditors’ Meeting

Legal Issues

  1. 1 Should the convening period for the second meeting of creditors be extended under the Corporations Act 2001 (Cth)?

Ratio Decidendi

The administrators’ need for additional time is consistent with the object and purpose of the Corporations Act Pt 5.3A, and the extension allows the administrators to complete necessary investigations and tasks to facilitate the best possible outcome for creditors, without opposition from major creditors.

Court Disposition

application granted

Orders

  • The period for convening the second meeting of creditors is extended to 22 September 2017.
  • The second meeting may be held within 5 business days after the end of the convening period, despite s 439A(2).