Re Regis Towers Real Estate (Administrator Appointed) [2005] NSWSC 603

Re Regis Towers Real Estate (Administrator Appointed) [2005] NSWSC 603

Given the agreement in principle that may benefit creditors and the administrator's view that this course is in the creditors' interests, it is appropriate to extend the time for conclusion of the second meeting of creditors. For abundant caution, the administrator is authorised to be paid fees from time to time if approved by the committee of creditors.

Parties
Applicant: Regis Towers Real Estate (Administrator Appointed)
Jurisdiction
Australia
Judgment Date
21 June 2005
Procedural Posture
Application Under S 447 a of the Corporations Act 2001 (cth) / Interlocutory; Extension of Time and Determination of Administrator's Fee Payment
Outcome
Time for the second creditors' meeting extended; administrator's fees allowed to be paid under same terms as previous order.
Legal Topics
Voluntary Administration, Extension of Time for Creditors Meeting, Administrator's Fees, Approval of Fees by Committee of Creditors
Corporations Law Equity Voluntary Administration Extension of Time for Creditors Meeting Administrator's Fees Approval of Fees by Committee of Creditors

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Parties

Regis Towers Real Estate (Administrator Appointed)

Applicant

Procedural Posture

Application Under S 447 a of the Corporations Act 2001 (cth) / Interlocutory; Extension of Time and Determination of Administrator's Fee Payment

Legal Issues

  1. 1 Whether to grant a further extension of time to complete the second meeting of creditors in voluntary administration
  2. 2 Whether to authorise payment of the administrator's fees from time to time upon approval by committee of creditors

Ratio Decidendi

Given the agreement in principle that may benefit creditors and the administrator's view that this course is in the creditors' interests, it is appropriate to extend the time for conclusion of the second meeting of creditors. For abundant caution, the administrator is authorised to be paid fees from time to time if approved by the committee of creditors.

Court Disposition

Time for the second creditors' meeting extended; administrator's fees allowed to be paid under same terms as previous order.

Orders

  • Time for completion of second meeting of creditors extended to 30 September 2005.
  • Administrator may pay fees from time to time, provided committee of creditors approves, under same terms as Re Regis Towers Real Estate [2004] NSWSC 1251.