In the matter of SDV Longwall Pty Ltd (administrators appointed) [2015] NSWSC 1246

In the matter of SDV Longwall Pty Ltd (administrators appointed) [2015] NSWSC 1246

The administrators established a proper basis to extend the convening period, as it would likely improve the return to creditors, allow provision of better information, and have advantages for employee retention. There was no material prejudice to stakeholders and approval or non-objection from affected parties.

Parties
Plaintiff: Gayle Dickerson; Plaintiff: Said Jahani; Plaintiff: Graham Robert Killer
Jurisdiction
Australia
Judgment Date
13 July 2015
Procedural Posture
Originating Process / Application for Extension of Convening Period for Meeting of Creditors
Outcome
Extension of convening period granted; costs and expenses of the originating process to be costs in the administration.
Legal Topics
Extension of Convening Period, Administrator Powers, Creditors' Meetings
Corporations Law Extension of Convening Period Administrator Powers Creditors' Meetings

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Parties

Gayle Dickerson

Plaintiff

Said Jahani

Plaintiff

Graham Robert Killer

Plaintiff

Procedural Posture

Originating Process / Application for Extension of Convening Period for Meeting of Creditors

Legal Issues

  1. 1 Whether an extension of the convening period for creditors' meetings should be granted under s 439A of the Corporations Act 2001 (Cth)

Ratio Decidendi

The administrators established a proper basis to extend the convening period, as it would likely improve the return to creditors, allow provision of better information, and have advantages for employee retention. There was no material prejudice to stakeholders and approval or non-objection from affected parties.

Court Disposition

Extension of convening period granted; costs and expenses of the originating process to be costs in the administration.

Orders

  • Order an extension of the convening period in accordance with the short minutes of order.
  • Costs and expenses of the originating process be costs in the administration of Companies.