Stimpson, in the matter of Eagle Boys Dial-A-Pizza Australia Pty Ltd (Administrators Appointed) v Eagle Boys Dial-A-Pizza Australia Pty Ltd (Administrators Appointed) [2016] FCA 935

Stimpson, in the matter of Eagle Boys Dial-A-Pizza Australia Pty Ltd (Administrators Appointed) v Eagle Boys Dial-A-Pizza Australia Pty Ltd (Administrators Appointed) [2016] FCA 935

In view of the complexity of the group, the need for an orderly sale to maximise the value for creditors, and the inability of the administrators to prepare adequate reports/statements within the original period, it is reasonable and justified to grant a three month extension of the convening period for the...

Source-derived case information.

Jurisdiction
Australia
Judgment Date
11 August 2016
Procedural Posture
Corporations – Application by Administrators for Extension of Convening Period for Creditors' Meeting / Application for Extension of Convening Period (hearing and Order)
Outcome
The application for extension of the convening period was granted.
Legal Topics
['extension of Convening Period' 'voluntary Administration' "creditors' Meetings"]
['corporations Law' 'insolvency'] ['extension of Convening Period' 'voluntary Administration' "creditors' Meetings"]

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Procedural Posture

Corporations – Application by Administrators for Extension of Convening Period for Creditors' Meeting / Application for Extension of Convening Period (hearing and Order)

Legal Issues

  1. 1 ["Whether the convening period for the creditors' meeting under s 439A of the Corporations Act 2001 (Cth) should be extended" 'Whether an orderly marketing/sale process justifies the extension' 'Whether proper notice has been provided to interested parties']

Ratio Decidendi

In view of the complexity of the group, the need for an orderly sale to maximise the value for creditors, and the inability of the administrators to prepare adequate reports/statements within the original period, it is reasonable and justified to grant a three month extension of the convening period for the creditors' meeting.

Court Disposition

The application for extension of the convening period was granted.

Orders

  • ['The period within which the administrator must convene a meeting of creditors under s 439A of the Corporations Act 2001 (Cth) in respect of each of the named companies is extended up to and including 10 November 2016.' 'Liberty granted to the plaintiff to apply for further extensions of the convening period prior...