Vince, in the matter of GF & GM BALSILLIE PTY LTD (Administrator Appointed) v GF & GM BALSILLIE PTY LTD (Administrator Appointed) [2001] FCA 1872

FEDERAL COURT OF AUSTRALIA

Vince, in the matter of GF & GM BALSILLIE PTY LTD (Administrator Appointed) v GF & GM BALSILLIE PTY LTD (Administrator Appointed)

[2001] FCA 1872

COMPANIES – administration – meeting of creditors irregularly convened – meeting of creditors irregularly adjourned – termination of administration – order made to regularise

Corporations Act 2001 (Cth) ss 435C, 436E, 437A, 439A, 443A, 443D, 443F, 447A, 471B Australasian Memory Pty Ltd v Brien (2000) 200 CLR 270 - applied IN THE MATTER OF GF & GM BALSILLIE PTY LTD (Administrator Appointed), PETER ROBERT VINCE in his capacity as former administrator of GF & GM BALSILLIE PTY LTD (Administrator Appointed) v GF & GM BALSILLIE PTY LTD (Administrator Appointed) and ROBERT COLE in his capacity as administrator of GF & GM BALSILLIE PTY LTD (Administrator Appointed) V 3080 of 2001 JUDGE: FINKELSTEIN J PLACE: MELBOURNE DATE: 14 DECEMBER 2001

IN THE FEDERAL COURT OF AUSTRALIA

VICTORIA DISTRICT REGISTRY V 3080 of 2001

IN THE MATTER OF GF & GM BALSILLIE PTY LTD (Administrator Appointed)

BETWEEN: PETER ROBERT VINCE in his capacity as former administrator of GF & GM BALSILLIE PTY LTD (Administrator Appointed)

Plaintiff

AND: GF & GM BALSILLIE PTY LTD (Administrator Appointed) and ROBERT COLE in his capacity as administrator of GF & GM BALSILLIE PTY LTD (Administrator Appointed)

Defendants

JUDGE: FINKELSTEIN J

DATE OF ORDER: 14 DECEMBER 2001

WHERE MADE: MELBOURNE

THE COURT ORDERS THAT: 1. Pursuant to s 471B of the Corporations Act 2001 (Cth), the plaintiff has leave to proceed with this application against the first defendant. 2. Pursuant to s 447A of the Corporations Act, Pt 5.3A is to operate in relation to the first defendant during its administration with the plaintiff as administrator as if:- (a) the administration of the first defendant with the plaintiff as administrator ended on 15 November 2001 and at a time immediately before the appointment of the second defendant as administrator of the first defendant; (b) section 439A operates in relation to the first defendant such that the second meeting of creditors convened by the plaintiff and held on 17 September 2001 (and subsequently adjourned) was duly convened by:- (i) the publication of the appropriate notice in "The Age" newspaper on 11 September 2001; (ii) the posting of the appropriate notice to creditors on 10 September 2001. (c) the adjourned second meeting of creditors of the company was duly adjourned to the time referred to in sub-par (a). 3. A declaration that any lien of the plaintiff in relation to the period of his administration of the first defendant as provided for in s 443F of the Act, or any equitable lien he may have, has priority over any lien of the second defendant in relation to the period of his administration of the first defendant as provided for in s 443F. 4. The defendants' costs of and incidental to this application be costs in the winding up of the first defendant. Note: Settlement and entry of orders is dealt with in Order 36 of the Federal Court Rules.