Diamond Press Australia Pty Limited [2001] NSWSC 313

Diamond Press Australia Pty Limited [2001] NSWSC 313

The administrators acted promptly and responsibly pursuing a going concern sale in a competitive process, making a legitimate case for a 60-day extension to maximize return for creditors under the Corporations Law.

Jurisdiction
Australia
Judgment Date
23 April 2001
Procedural Posture
Equity Application in Voluntary Administration / Application for Extension of Time for Second Meeting of Creditors
Outcome
Extension of time for second meeting of creditors granted.
Legal Topics
['voluntary Administration' 'extension of Time' 'second Meeting of Creditors']
['corporations Law' 'equity'] ['voluntary Administration' 'extension of Time' 'second Meeting of Creditors']

Case Brief

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Procedural Posture

Equity Application in Voluntary Administration / Application for Extension of Time for Second Meeting of Creditors

Legal Issues

  1. 1 ['Whether an extension of time for the second meeting of creditors should be granted under s.439A(6) of the Corporations Law']

Ratio Decidendi

The administrators acted promptly and responsibly pursuing a going concern sale in a competitive process, making a legitimate case for a 60-day extension to maximize return for creditors under the Corporations Law.

Court Disposition

Extension of time for second meeting of creditors granted.

Orders

  • ['Order one in the Summons made: latest date for holding second meeting of creditors extended to 25 June 2001.']