Collective Olive Groves Limited, in the matter of Collective Olive Groves Limited; application by Reidy [2009] FCA 177

FEDERAL COURT OF AUSTRALIA

Collective Olive Groves Limited, in the matter of Collective Olive Groves Limited; application by Reidy [2009] FCA 177

CORPORATIONS – application by company administer to permit creditors to further adjourn second meeting – negotiations ongoing between bank and sole creditor which would affect administration of company – adjournment said to be in best interests of creditors and members – application granted – leave granted to any person claiming to be interested to make an application to vary orders Corporations Act 2001 (Cth) Re Diamond Press Australia Pty Ltd [2001] NSWSC 313 referred to Re Double V Marketing Pty Ltd (1995) 16 ACSR 498 referred to Re Porter and Another as joint administrators of Priceright Construction Pty Limited (2006) 57 ACSR 206 referred to Ex parte Vouris; in the matter of Marrickville Bowling & Recreation Club Ltd (under administration [2008] FCA 622 referred to COLLECTIVE OLIVE GROVES LIMITED (ACN 079 354 742) (ADMINISTRATOR APPOINTED) and GEOFFREY PHILIP REIDY

NSD 144 of 2009

JACOBSON J

19 FEBRUARY 2009

SYDNEY

IN THE FEDERAL COURT OF AUSTRALIA

NEW SOUTH WALES DISTRICT REGISTRY NSD 144 of 2009

BETWEEN: COLLECTIVE OLIVE GROVES LIMITED (ACN 079 354 742) (ADMINISTRATOR APPOINTED)

First Plaintiff

GEOFFREY PHILIP REIDY

Second Plaintiff

JUDGE: JACOBSON J

DATE OF ORDER: 19 FEBRUARY 2009

WHERE MADE: SYDNEY

THE COURT ORDERS THAT:

1. Leave to file the Application herein instanter. 2. Service of the Application herein be dispensed with 3. Notwithstanding the provisions of s 439A(2) of the Corporations Act 2001 (Cth) ("the Act"), pursuant to s 447A of the Act, Part 5.3A of that Act is to operate in relation to Collective Olive Groves Limited (ACN 079 354 742) (Administrator Appointed) as if s 439B(2) omitted the words after "must not" and included instead of the omitted words the words "extend beyond 20 March 2009 despite the operation of regulation 5.6.18(2)." 4. Leave be granted to any person claiming to be interested, including any creditor of Collective Olive Groves Limited (ACN 079 354 742) (Administrator Appointed), to make such application as he, she or it may be advised to vary these orders on 48 hours notice to the Plaintiffs and to the Court. 5. The Plaintiffs' costs of the proceedings be paid as costs of the administration of the Company. 6. Liberty to apply on 48 hours notice. Note: Settlement and entry of orders is dealt with in Order 36 of the Federal Court Rules. The text of entered orders can be located using eSearch on the Court's website. IN THE FEDERAL COURT OF AUSTRALIA