Cronin, in the matter of Cubbie Group Limited [2009] FCA 1419

Cronin, in the matter of Cubbie Group Limited [2009] FCA 1419

Having regard to the complex structure, necessity for asset valuations, and ongoing sale or restructure process, it is appropriate to extend the convening period until 31 March 2010 to enable administrators to properly discharge their duties and provide informed recommendations to creditors.

Parties
Administrator (plaintiff): John Patric Cronin; Administrator (plaintiff): William James Harris; Administrator (plaintiff): Colin McIntosh Nicol; Company Under Administration: Cubbie Group Limited (Administrators Appointed) (ACN 116 808 694); Company Under Administration: Cubbie Group Brisbane Pty Limited (Administrators Appointed) (ACN 107 458 391); Company Under Administration: Cubbie St George Pty Limited (Administrators Appointed) (ACN 116 498 876); Company Under Administration: Cubbie Group St George Pty Limited (Administrators Appointed) (ACN 116 498 867); Company Under Administration: Cubbie Dirranbandi 1 Pty Limited (Administrators Appointed) (ACN 116 335 490); Company Under Administration: Cubbie Dirranbandi 2 Pty Limited (Administrators Appointed) (ACN 116 330 673); Company Under Administration: Cubbie Dirranbandi 3 Pty Limited (Administrators Appointed) (ACN 116 330 708); Company Under Administration: Cubbie Station Pty Limited (Administrators Appointed) (ACN 009 772 150); Company Under Administration: Cubbie Group 1 Pty Limited (Administrators Appointed) (ACN 009 772 132); Company Under Administration: Cubbie Group 2 Pty Limited (Administrators Appointed) (ACN 009 772 141); Company Under Administration: Cubbie Group 3 Pty Limited (Administrators Appointed) (ACN 009 772 123)
Jurisdiction
Australia
Judgment Date
24 November 2009
Procedural Posture
Corporations Act Application / Interlocutory Application for Extension of Convening Period
Outcome
Application granted
Legal Topics
External Administration, Extension of Convening Period, Administrators' Duties
Corporations Law Insolvency External Administration Extension of Convening Period Administrators' Duties

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Parties

John Patric Cronin

Administrator (plaintiff)

William James Harris

Administrator (plaintiff)

Colin McIntosh Nicol

Administrator (plaintiff)

Cubbie Group Limited (Administrators Appointed) (ACN 116 808 694)

Company Under Administration

Cubbie Group Brisbane Pty Limited (Administrators Appointed) (ACN 107 458 391)

Company Under Administration

Cubbie St George Pty Limited (Administrators Appointed) (ACN 116 498 876)

Company Under Administration

Cubbie Group St George Pty Limited (Administrators Appointed) (ACN 116 498 867)

Company Under Administration

Cubbie Dirranbandi 1 Pty Limited (Administrators Appointed) (ACN 116 335 490)

Company Under Administration

Cubbie Dirranbandi 2 Pty Limited (Administrators Appointed) (ACN 116 330 673)

Company Under Administration

Cubbie Dirranbandi 3 Pty Limited (Administrators Appointed) (ACN 116 330 708)

Company Under Administration

Cubbie Station Pty Limited (Administrators Appointed) (ACN 009 772 150)

Company Under Administration

Cubbie Group 1 Pty Limited (Administrators Appointed) (ACN 009 772 132)

Company Under Administration

Cubbie Group 2 Pty Limited (Administrators Appointed) (ACN 009 772 141)

Company Under Administration

Cubbie Group 3 Pty Limited (Administrators Appointed) (ACN 009 772 123)

Company Under Administration

Procedural Posture

Corporations Act Application / Interlocutory Application for Extension of Convening Period

Legal Issues

  1. 1 Whether it is appropriate to grant an extension of the convening period for the second meeting of creditors under s 439A(6) of the Corporations Act 2001 (Cth)

Ratio Decidendi

Having regard to the complex structure, necessity for asset valuations, and ongoing sale or restructure process, it is appropriate to extend the convening period until 31 March 2010 to enable administrators to properly discharge their duties and provide informed recommendations to creditors.

Court Disposition

Application granted

Orders

  • Orders are made in terms of draft Orders initialled by Justice Greenwood extending the convening period until 31 March 2010.