In the matter of Henry Walker Eltin Group Ltd (Administrators Appointed) [2005] FCA 994

FEDERAL COURT OF AUSTRALIA In the matter of Henry Walker Eltin Group Ltd (Administrators Appointed) [2005] FCA 994 Corporations Act 2001 (Cth) s 436E, 436F(1), 437C, 439A, 445F, 449E, 447A Corporations Regulations 2001 (Cth) regs 5.6.11 – 5.6.36A Lombe, in the matter of Bosnjak Holdings Pty Ltd (Administrators appointed) [2005] FCA 275 cited Re Regis Towers Real Estate Pty Ltd 51 ACSR 628 cited IN THE MATTER OF HENRY WALKER ELTIN GROUP LTD (ADMINISTRATORS APPOINTED) NSD 483 OF 2005 HELY J 31 MARCH 2005 SYDNEY

IN THE FEDERAL COURT OF AUSTRALIA

NEW SOUTH WALES DISTRICT REGISTRY NSD 483 OF 2005

BETWEEN: HENRY WALKER ELTIN GROUP

(ACN 007 710 483)

(ADMINISTRATORS APPOINTED)

FIRST PLAINTIFF

ANTHONY GREGORY McGRATH

SECOND PLAINTIFF

SCOTT BRADLEY KERSHAW

THIRD PLAINTIFF

JOSEPH DAVID HAYES

FOURTH PLAINTIFF

SHAUN ROBERT FRASER

FIFTH PLAINTIFF

JUDGE: HELY J

DATE OF ORDER: 31 MARCH 2005

WHERE MADE: SYDNEY

THE COURT ORDERS THAT: 1. Pursuant to s 447A of the Corporations Act 2001 (Cth) ('the Act'), s 449E of the Act will operate in such a manner in relation to each of the companies in Schedule 1 attached ('Companies') as if it reads: '(1) The administrator of a company under administration, or of a deed of company arrangement, is entitled to: (a) such remuneration as is fixed by a resolution of the company's committee of creditors at a meeting of the committee convened by the administrator giving at least 7 days written notice, together with details of the amount of remuneration claimed, the manner in which the amount is comprised and calculated, and the staff members involved, including: (i) details of the staff classification, hourly rate and hours charged by each staff member, (ii) a description of the tasks completed by each staff member; and (iii) details of the skills relevant to each staff classification; and such a meeting of the committee of creditors of the company is a meeting convened under Part 5.3A for the purposes of Regulation 5.6.11 and Regulations 5.6.12 to 5.6.36A apply to such a meeting of the committee of creditors; (b) such remuneration as is fixed by a resolution of the company's creditors passed at a meeting convened under s 439A, or under s 439A or 445F, as the case may be; or (c) if no remuneration is so fixed – such remuneration as the Court fixes on the application of the administrator. (2) Where remuneration is fixed under paragraph (1) (a) or (b), the Court may, on the application of the administrator or of an officer, member or creditor of the company: