Algeri (Administrator), in the matter of Murray & Roberts Pty Ltd (Administrators Appointed) (No 2) [2022] FCA 1563

Algeri (Administrator), in the matter of Murray & Roberts Pty Ltd (Administrators Appointed) (No 2) [2022] FCA 1563

Given the size, complexity, and ongoing sale process, an extension of the convening period for the second meetings is warranted and in the interests of creditors. Administrative directions for proofs of debt and committee of inspection profit are appropriate given trading continuity, provided disclosures and safeguards are implemented.

Parties
First Plaintiff: Salvatore Algeri, Jason Tracy, Glen Kanevsky and David Orr in their capacities as joint and several administrators of the second to thirteenth plaintiffs; Second Plaintiff: MURRAY & ROBERTS PTY LTD (ADMINISTRATORS APPOINTED); Third Plaintiff: CLOUGH LIMITED (ADMINISTRATORS APPOINTED); Fourth Plaintiff: CLOUGH OPERATIONS PTY LTD (ADMINISTRATORS APPOINTED); Fifth Plaintiff: CLOUGH OVERSEAS PTY LTD (ADMINISTRATORS APPOINTED); Sixth Plaintiff: CLOUGH SEAM GAS PTY LTD (ADMINISTRATORS APPOINTED); Seventh Plaintiff: CLOUGH ENGINEERING & INTEGRATED SOLUTIONS (CEIS) PTY LTD (ADMINISTRATORS APPOINTED); Eighth Plaintiff: E20 PTY LTD (ADMINISTRATORS APPOINTED); Ninth Plaintiff: SHARP RESOURCES PTY LTD (ADMINISTRATORS APPOINTED); Tenth Plaintiff: CLOUGH PROJECTS PTY LTD (ADMINISTRATORS APPOINTED); Eleventh Plaintiff: CLOUGH ENGINEERING PTY LTD (ADMINISTRATORS APPOINTED); Twelfth Plaintiff: CLOUGH PROJECTS INTERNATIONAL PTY LTD (ADMINISTRATORS APPOINTED); Thirteenth Plaintiff: CLOUGH PROJECTS AUSTRALIA PTY LTD (ADMINISTRATORS APPOINTED)
Jurisdiction
Australia
Judgment Date
21 December 2022
Procedural Posture
Corporate Administration / Interlocutory Application for Orders in Administration
Outcome
Orders granted
Legal Topics
Extension of Convening Period for Second Meetings of Creditors, Proofs of Debt Procedure, Leave to Committee of Inspection Members to Derive Profit or Advantage, Directions Regarding Creditor Notice
Corporations Law Corporate Insolvency Extension of Convening Period for Second Meetings of Creditors Proofs of Debt Procedure Leave to Committee of Inspection Members to Derive Profit or Advantage Directions Regarding Creditor Notice

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Parties

Salvatore Algeri, Jason Tracy, Glen Kanevsky and David Orr in their capacities as joint and several administrators of the second to thirteenth plaintiffs

First Plaintiff

MURRAY & ROBERTS PTY LTD (ADMINISTRATORS APPOINTED)

Second Plaintiff

CLOUGH LIMITED (ADMINISTRATORS APPOINTED)

Third Plaintiff

CLOUGH OPERATIONS PTY LTD (ADMINISTRATORS APPOINTED)

Fourth Plaintiff

CLOUGH OVERSEAS PTY LTD (ADMINISTRATORS APPOINTED)

Fifth Plaintiff

CLOUGH SEAM GAS PTY LTD (ADMINISTRATORS APPOINTED)

Sixth Plaintiff

CLOUGH ENGINEERING & INTEGRATED SOLUTIONS (CEIS) PTY LTD (ADMINISTRATORS APPOINTED)

Seventh Plaintiff

E20 PTY LTD (ADMINISTRATORS APPOINTED)

Eighth Plaintiff

SHARP RESOURCES PTY LTD (ADMINISTRATORS APPOINTED)

Ninth Plaintiff

CLOUGH PROJECTS PTY LTD (ADMINISTRATORS APPOINTED)

Tenth Plaintiff

CLOUGH ENGINEERING PTY LTD (ADMINISTRATORS APPOINTED)

Eleventh Plaintiff

CLOUGH PROJECTS INTERNATIONAL PTY LTD (ADMINISTRATORS APPOINTED)

Twelfth Plaintiff

CLOUGH PROJECTS AUSTRALIA PTY LTD (ADMINISTRATORS APPOINTED)

Thirteenth Plaintiff

Procedural Posture

Corporate Administration / Interlocutory Application for Orders in Administration

Legal Issues

  1. 1 Whether the convening period for second meetings of creditors should be extended
  2. 2 Whether creditors should be required to lodge proofs of debt via Halo Platform
  3. 3 Whether leave should be granted for committee of inspection members to derive profit or advantage from external administration

Ratio Decidendi

Given the size, complexity, and ongoing sale process, an extension of the convening period for the second meetings is warranted and in the interests of creditors. Administrative directions for proofs of debt and committee of inspection profit are appropriate given trading continuity, provided disclosures and safeguards are implemented.

Court Disposition

Orders granted

Orders

  • Interlocutory application made returnable on 21 December 2022
  • Extension of convening period for second meetings of creditors to 17 February 2023