Application of Walker & anor [2002] NSWSC 705

Application of Walker & anor [2002] NSWSC 705

The Court extended the time for convening a meeting of creditors by three months and dispensed with the requirement to convene a meeting of members, as there was no substantial injustice, no prospect of shareholder distribution, and the complexity and expense justified modification of statutory requirements.

Jurisdiction
Australia
Judgment Date
12 August 2002
Procedural Posture
Application / Judgment
Outcome
Orders granted
Legal Topics
['winding Up' 'voluntary Administration' "creditors' Voluntary Winding Up" 'court Power to Extend Time for Meeting' 'court Power to Waive Meeting of Members']
['corporations'] ['winding Up' 'voluntary Administration' "creditors' Voluntary Winding Up" 'court Power to Extend Time for Meeting' 'court Power to Waive Meeting of Members']

Case Brief

Summary, issues, holding and outcome

More case intelligence is available

Unlock the full research layer for this judgment.

Full judgment text Downloadable case file Legal principles 1 Authorities cited 2 Party arguments 2 Amounts and remedies 1
Sign in to unlock

Procedural Posture

Application / Judgment

Legal Issues

  1. 1 ['Should the Court extend the time for convening a meeting of creditors under s 508?' 'Should the Court waive the requirement to convene a meeting of members under s 508?']

Ratio Decidendi

The Court extended the time for convening a meeting of creditors by three months and dispensed with the requirement to convene a meeting of members, as there was no substantial injustice, no prospect of shareholder distribution, and the complexity and expense justified modification of statutory requirements.

Court Disposition

Orders granted

Orders

  • ['Order made under s 1322 extending time for convening meeting of creditors.' 'Order made under s 447A dispensing with the requirement for a meeting of members.']