Re Redrock Media & Ors [1999] NSWSC 182

Re Redrock Media & Ors [1999] NSWSC 182

It is appropriate to postpone execution of deeds and grant leave for the liquidator to appoint himself administrator due to the interdependence of the arrangements and provided adequate safeguards for creditor notification are in place.

Parties
Plaintiff: John Vouris; Company: Redrock Media Pty Ltd (In Liquidation); Company: Planet Media Group Pty Ltd (Administrator Appointed); Company: The Axis Group (Aust) Pty Ltd (Administrator Appointed)
Jurisdiction
Australia
Judgment Date
01 March 1999
Procedural Posture
Application / Ex Parte Hearing
Outcome
Orders made to postpone execution of deeds and to grant leave for liquidator to appoint himself administrator
Legal Topics
Voluntary Administration, Deed of Company Arrangement, Liquidator's Powers, Court's Discretion, Creditors' Meetings
Corporations Law Equity Voluntary Administration Deed of Company Arrangement Liquidator's Powers Court's Discretion Creditors' Meetings

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Parties

John Vouris

Plaintiff

Redrock Media Pty Ltd (In Liquidation)

Company

Planet Media Group Pty Ltd (Administrator Appointed)

Company

The Axis Group (Aust) Pty Ltd (Administrator Appointed)

Company

Procedural Posture

Application / Ex Parte Hearing

Legal Issues

  1. 1 Whether the court should extend the time for execution of Deeds of Company Arrangement for Planet and Axis under s 444B(2)(b) of the Corporations Law
  2. 2 Whether the court should grant leave to Mr Vouris to appoint himself administrator of Redrock under s 436B(2) of the Corporations Law

Ratio Decidendi

It is appropriate to postpone execution of deeds and grant leave for the liquidator to appoint himself administrator due to the interdependence of the arrangements and provided adequate safeguards for creditor notification are in place.

Court Disposition

Orders made to postpone execution of deeds and to grant leave for liquidator to appoint himself administrator

Orders

  • Time for execution of deeds of company arrangement for Planet and Axis extended up to and including Monday 7 March 1999
  • Leave granted for Mr Vouris to appoint himself administrator of Redrock