NRMA Workers Compensation (NSW) (No 2) Pty Ltd v Eaternity Pty Ltd [2002] NSWSC 601

NRMA Workers Compensation (NSW) (No 2) Pty Ltd v Eaternity Pty Ltd [2002] NSWSC 601

In circumstances where there is non-trading, creditor preference for adjournment, and potential benefit to creditors from further consideration of a deed of company arrangement, a short adjournment is in the creditors’ interests and should be granted.

Parties
Plaintiff: NRMA Workers Compensation (NSW) (No 2) Pty Limited; Defendant: Eaternity Pty Limited
Jurisdiction
Australia
Judgment Date
05 June 2002
Procedural Posture
Winding Up Application / Application for Adjournment of Winding Up Proceedings
Outcome
Short adjournment of winding up proceedings granted.
Legal Topics
Voluntary Administration, Winding Up, Adjournment of Winding Up Application, Deed of Company Arrangement
Corporations Voluntary Administration Winding Up Adjournment of Winding Up Application Deed of Company Arrangement

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Parties

NRMA Workers Compensation (NSW) (No 2) Pty Limited

Plaintiff

Eaternity Pty Limited

Defendant

Procedural Posture

Winding Up Application / Application for Adjournment of Winding Up Proceedings

Legal Issues

  1. 1 Whether the winding up application should be adjourned to permit consideration of a proposed deed of company arrangement under voluntary administration

Ratio Decidendi

In circumstances where there is non-trading, creditor preference for adjournment, and potential benefit to creditors from further consideration of a deed of company arrangement, a short adjournment is in the creditors’ interests and should be granted.

Court Disposition

Short adjournment of winding up proceedings granted.

Orders

  • Winding up proceedings are adjourned to a date shortly after 20 June 2002 to permit consideration of the proposed deed of company arrangement at the creditors’ meeting.
  • Orders in terms of short minutes initialled by the judge.