NYLEX (NEW ZEALAND) LIMITED (ADMINISTRATORS APPOINTED AND IN RECEIVERSHIP) AND ANOR HC AK CIV 2009-404-1217
The court exercised its power under s 239AT(3) of the Companies Act 1993 to extend the convening period for watershed meetings for both companies to 31 July 2009, granted leave for interested persons to apply to modify or discharge the orders with appropriate notice, ordered costs of the application to be paid from...
Source-derived case information.
- Citation
- openlaw-eb704f3e_42f6_4c1e_a2a6_77a886a75e74.pdf
- Parties
- Applicant: Nylex (New Zealand) Limited (Administrators Appointed and in Receivership); Applicant: Nylex Engineering Systems Limited (Administrators Appointed and in Receivership)
- Court
- High Court
- Jurisdiction
- New Zealand
- Judgment Date
- 10 March 2009
- Procedural Posture
- Application Under S 239 at Companies Act 1993 to Extend Convening Period for Watershed Meetings / Hearing on the Papers; Without Notice Application for Interim Orders
- Outcome
- Orders granted as sought with ancillary directions and costs order.
- Legal Topics
- Extension of Convening Period, Administration, Receivership, Watershed Meeting, Costs From Company Assets
Source-derived case record
Summary, issues, holding and outcome
More case intelligence is available
Unlock the full research layer for this judgment.
Parties
Nylex (New Zealand) Limited (Administrators Appointed and in Receivership)
Applicant
Nylex Engineering Systems Limited (Administrators Appointed and in Receivership)
Applicant
Procedural Posture
Application Under S 239 at Companies Act 1993 to Extend Convening Period for Watershed Meetings / Hearing on the Papers; Without Notice Application for Interim Orders
Legal Issues
- 1 Whether the court should exercise its power under s 239AT(3) to extend the convening period for watershed meetings for each company
- 2 Whether costs of the application should be paid out of company assets
- 3 Whether third parties should have leave to apply to modify or discharge the orders and notification/advertising requirements
Ratio Decidendi
The court exercised its power under s 239AT(3) of the Companies Act 1993 to extend the convening period for watershed meetings for both companies to 31 July 2009, granted leave for interested persons to apply to modify or discharge the orders with appropriate notice, ordered costs of the application to be paid from Nylex (New Zealand) Ltd assets, and required publication of the extension orders in specified newspapers.
Court Disposition
Orders granted as sought with ancillary directions and costs order.
Orders
- Extension under s 239AT(3) of the convening period for Nylex (New Zealand) Ltd to 31 July 2009.
- Extension under s 239AT(3) of the convening period for Nylex Engineering Systems Ltd to 31 July 2009.
Full Case Text
Judgment text and source record
1 paragraphs
NYLEX (NEW ZEALAND) LIMITED (ADMINISTRATORS APPOINTED AND IN RECEIVERSHIP) AND ANOR HC AK CIV 2009-404-1217 10 March 2009IN THE HIGH COURT OF NEW ZEALAND AUCKLAND REGISTRY CIV 2009-404-1217UNDER section 239AT of the Companies Act 1993, Part 15 of the Companies Act 1993 and Part 19 of the High Court Rules IN THE MATTER OF an application under s 239AT of the Companies Act 1993 for an order extending the convening period by which the administrators must convene the watershed meeting NYLEX (NEW ZEALAND) LIMITED (ADMINISTRATORS APPOINTED AND IN RECEIVERSHIP) NYLEX ENGINEERING SYSTEMS LIMITED (ADMINISTRATORS APPOINTED AND IN RECEIVERSHIP) Hearing: (on the papers) Counsel: B Gustafson and M Broad for Applicants Judgment: 10 March 2009JUDGMENT OF HEATH JThis judgment was delivered by me on 11 March 2009 at 5.30pm pursuant to Rule 11.5 of the High Court RulesRegistrar/Deputy RegistrarSolicitors: Kensington Swan, Private Bag 92101, Auckland[1] The administrators of Nylex (New Zealand) Ltd and Nylex Engineering Systems Ltd (both in administration and receivership) apply, without notice, for orders extending the time to convene watershed meetings in respect of each company. [2] For reasons to be given in writing tomorrow, I make the following orders: a) An order under s 239AT(3) of the Companies Act 1993 that the convening period in the administration of Nylex (New Zealand) Ltd (Administrators Appointed and in Receivership) defined in s 239AT(2) of the Companies Act 1993 be extended to 31 July 2009. b) An order under s 239AT(3) of the Companies Act 1993 that the convening period in the administration of Nylex Engineering Systems Ltd (Administrators Appointed and in Receivership) defined in s 239AT(2) of the Companies Act 1993 be extended to 31 July 2009. c) An order that leave to apply be granted to any person who can demonstrate a sufficient interest to modify or discharge either the above orders upon appropriate notice being given to the applicants. d) An order that the costs and disbursements of this application be paid out of the assets of Nylex (New Zealand) Ltd (Administrators Appointed and in Receivership). e) The administrators of both Nylex (New Zealand) Ltd (Administrators Appointed and in Receivership) and Nylex Engineering Systems Ltd (Administrators Appointed and in Receivership) shall advertise the order extending time to convene each watershed meeting in The New Zealand Herald, The Dominion Post, Christchurch Press and Otago Daily Times newspapers within seven days of the date of this order.[3] Leave is reserved to the Administrators to apply further, in respect of any ancillary issues arising out of the orders made. ____________________________ P R Heath J Delivered at 5.30pm on 10 March 2009