In the matter of Napoleon Perdis Cosmetics Pty Ltd (admins apptd) and Napoleon Perdis Cosmetics Australia Pty Ltd (admins apptd) [2019] NSWSC 348

In the matter of Napoleon Perdis Cosmetics Pty Ltd (admins apptd) and Napoleon Perdis Cosmetics Australia Pty Ltd (admins apptd) [2019] NSWSC 348

Given the complexity and scale of the business, advanced nature of the sale process, lack of opposition from creditors, and the Administrators' evidence, it is proper to extend the convening period to allow completion of the sale and better creditor information.

Jurisdiction
Australia
Judgment Date
20 February 2019
Procedural Posture
Corporations Application / Application to Extend Convening Period for Second Meeting of Creditors
Outcome
Extension of convening period granted.
Legal Topics
['external Administration' 'administrators' 'extension of Convening Period' 'creditors Meeting']
['corporations Law'] ['external Administration' 'administrators' 'extension of Convening Period' 'creditors Meeting']

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Procedural Posture

Corporations Application / Application to Extend Convening Period for Second Meeting of Creditors

Legal Issues

  1. 1 ['Whether the period for convening the second meeting of creditors should be extended under s 439A(6) of the Corporations Act 2001 (Cth)']

Ratio Decidendi

Given the complexity and scale of the business, advanced nature of the sale process, lack of opposition from creditors, and the Administrators' evidence, it is proper to extend the convening period to allow completion of the sale and better creditor information.

Court Disposition

Extension of convening period granted.

Orders

  • ['The date for convening the second meeting of creditors of the Plaintiffs is extended to 28 May 2019.']