Cathro, in the matter of Custom Bus Australia Pty Ltd (administrators appointed) [2018] FCA 113

Cathro, in the matter of Custom Bus Australia Pty Ltd (administrators appointed) [2018] FCA 113

Having regard to the principles governing extension applications, the evidence of complexity and need for further time to complete sale and investigations, lack of creditor objection, and reasonable expectations for progression, an extension of the convening period is warranted under s 439A(6).

Parties
First Plaintiff: Simon John Cathro and Aaron Kevin Lucan in their capacities as joint and several administrators of Custom Bus Australia Pty Ltd (administrators appointed) ACN 600 985 895; Second Plaintiff: Custom Bus Australia Pty Ltd (administrators appointed) ACN 600 985 895; Third Plaintiff: Simon John Cathro and Aaron Kevin Lucan in their capacities as joint and several administrators of Custom Bus Holdings Pty Ltd (administrators appointed) ACN 600 982 947; Fourth Plaintiff: Custom Bus Holdings Pty Ltd (administrators appointed) ACN 600 982 947
Jurisdiction
Australia
Judgment Date
19 February 2018
Procedural Posture
Corporations Application / Interlocutory Application for Extension of Convening Period
Outcome
Extension of the convening period granted; ancillary communications and procedural orders also made.
Legal Topics
Extension of Convening Period, Administrators’ Duties, Creditors' Meetings
Corporations Law Insolvency Extension of Convening Period Administrators’ Duties Creditors' Meetings

Case Brief

Summary, issues, holding and outcome

More case intelligence is available

Unlock the full research layer for this judgment.

Full judgment text Downloadable case file Legal principles 3 Authorities cited 8 Party arguments 2 Amounts and remedies 16
Sign in to unlock

Parties

Simon John Cathro and Aaron Kevin Lucan in their capacities as joint and several administrators of Custom Bus Australia Pty Ltd (administrators appointed) ACN 600 985 895

First Plaintiff

Custom Bus Australia Pty Ltd (administrators appointed) ACN 600 985 895

Second Plaintiff

Simon John Cathro and Aaron Kevin Lucan in their capacities as joint and several administrators of Custom Bus Holdings Pty Ltd (administrators appointed) ACN 600 982 947

Third Plaintiff

Custom Bus Holdings Pty Ltd (administrators appointed) ACN 600 982 947

Fourth Plaintiff

Procedural Posture

Corporations Application / Interlocutory Application for Extension of Convening Period

Legal Issues

  1. 1 Whether to extend the convening period for the second creditors’ meeting under s 439A(6) of the Corporations Act 2001 (Cth)
  2. 2 Whether ancillary orders regarding notice and meetings should be granted

Ratio Decidendi

Having regard to the principles governing extension applications, the evidence of complexity and need for further time to complete sale and investigations, lack of creditor objection, and reasonable expectations for progression, an extension of the convening period is warranted under s 439A(6).

Court Disposition

Extension of the convening period granted; ancillary communications and procedural orders also made.

Orders

  • The period to convene the meeting of creditors for Custom Bus Australia Pty Ltd and Custom Bus Holdings Pty Ltd extended to 16 May 2018 under s 439A(6) Corporations Act.
  • The meetings may be held at any time during, or within five business days after, the extended convening period.