McGrath, in the matter of Henry Walker Eltin Group Limited (Administrators Appointed) (ACN 007 710 483) [2005] FCA 1479

McGrath, in the matter of Henry Walker Eltin Group Limited (Administrators Appointed) (ACN 007 710 483) [2005] FCA 1479

It was reasonable to enable creditors to adjourn the second meeting, given prior orders, steps taken by administrators to inform relevant parties, and the progress of asset sales; s 447A empowers the court to allow this extension despite the limitations in s 439A.

Parties
First Plaintiff, Voluntary Administrator: Anthony Gregory McGrath; First Plaintiff, Voluntary Administrator: Scott Bradley Kershaw; First Plaintiff, Voluntary Administrator: Joseph David Hayes; First Plaintiff, Voluntary Administrator: Shaun Robert Fraser; Second Plaintiffs: Henry Walker Eltin Group Limited (Administrators Appointed) (ACN 007 710 483) and Companies listed in Schedule 1
Jurisdiction
Australia
Judgment Date
19 October 2005
Procedural Posture
Voluntary Administration Application / Application for Further Extension of Time to Convene Second Creditors' Meeting
Outcome
application granted
Legal Topics
Voluntary Administration, Creditors' Meetings, Extension of Time
Corporations Voluntary Administration Creditors' Meetings Extension of Time

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 2 Authorities cited 7 Party arguments 1 Amounts and remedies 1
Sign in to unlock

Parties

Anthony Gregory McGrath

First Plaintiff, Voluntary Administrator

Scott Bradley Kershaw

First Plaintiff, Voluntary Administrator

Joseph David Hayes

First Plaintiff, Voluntary Administrator

Shaun Robert Fraser

First Plaintiff, Voluntary Administrator

Henry Walker Eltin Group Limited (Administrators Appointed) (ACN 007 710 483) and Companies listed in Schedule 1

Second Plaintiffs

Procedural Posture

Voluntary Administration Application / Application for Further Extension of Time to Convene Second Creditors' Meeting

Legal Issues

  1. 1 Whether an order should be made under s 447A(1) of the Corporations Act permitting creditors to adjourn the second meeting under s 439A to a date not more than 180 days after 8 July 2005
  2. 2 Whether further extension is justified to allow completion of the mining asset sale and proposal of a Deed of Company Arrangement

Ratio Decidendi

It was reasonable to enable creditors to adjourn the second meeting, given prior orders, steps taken by administrators to inform relevant parties, and the progress of asset sales; s 447A empowers the court to allow this extension despite the limitations in s 439A.

Court Disposition

application granted

Orders

  • Pursuant to s 447A(1) of the Corporations Act 2001, Pt 5.3A is to operate such that the meetings of creditors held under s 439A may be adjourned by creditors to a date appointed by the first plaintiffs not more than 180 days after 8 July 2005.
  • Liberty to apply granted to any person who can demonstrate sufficient interest to modify or discharge the orders upon appropriate notice to plaintiffs.