In the matter of Montpac Pty Ltd (Administrators Appointed) and Anor [2013] NSWSC 857

In the matter of Montpac Pty Ltd (Administrators Appointed) and Anor [2013] NSWSC 857

An extension of the period for holding the adjourned second meeting of creditors to 30 September 2013 is warranted to give the administrators adequate time for asset valuation and possible resolution of tax proceedings, thereby maximising returns for creditors and without prejudice to anyone.

Jurisdiction
Australia
Judgment Date
18 June 2013
Procedural Posture
Application Under S 447 a Corporations Act 2001 (cth) / Interlocutory
Outcome
Extension of time granted for holding adjourned creditors' meeting.
Legal Topics
['voluntary Administration' "creditors' Meeting" 'extension of Meeting Period' 'pt 5.3 a Corporations Act']
['corporations Law'] ['voluntary Administration' "creditors' Meeting" 'extension of Meeting Period' 'pt 5.3 a Corporations Act']

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Procedural Posture

Application Under S 447 a Corporations Act 2001 (cth) / Interlocutory

Legal Issues

  1. 1 ['Whether to extend period for holding adjourned second meeting of creditors under s 447A Corporations Act 2001 (Cth)']

Ratio Decidendi

An extension of the period for holding the adjourned second meeting of creditors to 30 September 2013 is warranted to give the administrators adequate time for asset valuation and possible resolution of tax proceedings, thereby maximising returns for creditors and without prejudice to anyone.

Court Disposition

Extension of time granted for holding adjourned creditors' meeting.

Orders

  • ['The period for holding the adjourned meeting of creditors is extended to 30 September 2013.' 'Liberty is reserved to any interested person, including any creditor, to apply to vary the orders on notice to the plaintiffs.' 'Notification of the orders to creditors and advertising of the reconvened meetings on the...