In the Matter of LOCM Pty Ltd (Administrators Appointed) [1997] FCA 1099

FEDERAL COURT OF AUSTRALIA

CORPORATIONS LAW - voluntary administration - meeting convened under s 439A and adjourned - whether court may order that the time limit provided by s 439B(2) be extended to a date more than sixty days after the first day upon which the meeting was held - consideration of the scope of s 447A Corporations Law s 436A(1), s 436E, s 439A(1), s 439A(4), s 439A(6), s 439B(2), s 439C, s 447A Pt 5.3 Cawthorn v Keira Constructions Pty Ltd (1994) 13 ACSR 337 considered Brash Holdings Ltd (admr apptd) v Katile Pty Ltd (1994) 13 ACSR 504 considered Re Brashs Pty Ltd (1994) 15 ACSR 477 considered Mann v Abruzzi Sports Club Limited (1994) 12 ACSR 611 considered Re Taylor (1995) 16 ACSR 774 approved Re Double V Marketing Pty Ltd (1995) 16 ACSR 498 considered ASC v Marlborough Goldmines Limited (1993) 177 CLR 485 applied IN THE MATTER OF LOCM PTY LTD (ADMINISTRATORS APPOINTED) VG 3315 of 1997 GOLDBERG J MELBOURNE 22 OCTOBER 1997

IN THE FEDERAL COURT OF AUSTRALIA

VICTORIA DISTRICT REGISTRY VG 3315 of 1997

IN THE MATTER OF SECTION 447A(1) OF THE CORPORATIONS LAW

AND

IN THE MATTER OF:

LOCM PTY LTD (ADMINISTRATORS APPOINTED)

(ACN 070 142 166)

Applicant

JUDGE: GOLDBERG J

DATE OF ORDER: 22 OCTOBER 1997

WHERE MADE: MELBOURNE

THE COURT ORDERS THAT: 1. The period fixed by s 439B(2) of the Corporations Law within which the meeting of the applicant which was held on 26 August 1997 may be adjourned be extended to 24 December 1997. 2. Leave is reserved to any person claiming to be interested in the affairs of the applicant, including the Australian Securities Commission, to make such application as they may be advised to vary this order upon forty‑eight hours written notice to the administrators of the applicant. 3. The costs of this application be costs in the administration of the applicant. Note: Settlement and entry of orders is dealt with in Order 36 of the Federal Court Rules.