Crowe-Maxwell, in the matter of Minc Financial Services Holdings Pty Limited (Administrators Appointed) [2011] FCA 637

FEDERAL COURT OF AUSTRALIA

Crowe-Maxwell, in the matter of Minc Financial Services Holdings Pty Limited (Administrators Appointed) [2011] FCA 637 Citation: Crowe-Maxwell, in the matter of Minc Financial Services Holdings Pty Limited (Administrators Appointed) [2011] FCA 637

Parties: ATLE CROWE-MAXWELL AND KEN WHITTINGHAM IN THEIR CAPACITY AS ADMINISTRATORS OF MINC FINANCIAL SERVICES HOLDINGS PTY LIMITED (ADMINISTRATORS APPOINTED) ACN 126 999 308

File number(s): NSD 775 of 2011

Judge: JAGOT J

Date of judgment: 30 May 2011

Catchwords: CORPORATIONS – application for declarations pursuant to s 1322(4)(a) of Corporations Act – where notice of second meeting of creditors omitted name of companies – where proxy forms circulated to creditors omitted certain resolutions

Legislation: Corporations Act 2001 (Cth) ss 439A, 447A, 1322 Corporations Regulations 2001 (Cth)

Date of hearing: 30 May 2011

Place: Sydney

Division: GENERAL DIVISION

Category: Catchwords

Number of paragraphs: 11

Solicitor for the Plaintiff: Mr M Kelly of Blake Dawson

IN THE FEDERAL COURT OF AUSTRALIA NEW SOUTH WALES DISTRICT REGISTRY GENERAL DIVISION NSD 775 of 2011

BETWEEN: ATLE CROWE-MAXWELL AND KEN WHITTINGHAM IN THEIR CAPACITY AS ADMINISTRATORS OF MINC FINANCIAL SERVICES HOLDINGS PTY LIMITED (ADMINISTRATORS APPOINTED) ACN 126 999 308

Plaintiff

JUDGE: JAGOT J DATE OF ORDER: 30 MAY 2011 WHERE MADE: SYDNEY

THE COURT ORDERS THAT:

1. In respect of Minc Financial Services Pty Limited (MFS) and Australian Stockbroking and Advisory Services Pty Limited (ASANDAS), pursuant to s 1322(4)(a) of the Corporations Act 2001 (Cth) (the Act), the Proxy Forms accompanying the notices of the meetings of those Companies given to creditors on 24 May 2011 pursuant to s 439A(3)(a) and the Proxy Forms circulated to creditors on 27 May 2011 are not invalid by reason of any contravention of regs 5.6.29(1)(a) or 5.6.31 of the Corporations Regulations 2001 (Cth) (the Regulations). 2. With respect to MFS, ASANDAS and Minc Financial Services Holdings Pty Limited (each a Company and together the Companies): (a) pursuant to s 1322(4)(a) of the Act, the meeting of creditors of the Company convened under s 439A(3) to be held on 1 June 2011 is not invalid by reason of any contravention of s 439A(3)(b) of the Act, which requires notice of the meeting to be published at least five days before the meeting; and (b) pursuant to s 447A(1) of the Act, Pt 5.3A of the Act is to operate in relation to the Company as though s 439A(3)(b) required that the meeting of the Company's creditors be convened by causing notice of the meeting to be published in a national newspaper or, in each State or Territory in which the Company has its registered office or carries on business, in a daily newspaper that circulates generally in that State or Territory, at least 4 business days before the meeting. 3. The plaintiffs' costs and expenses of this application be costs and expenses of the administration of the Companies. 4. These orders may be entered forthwith. 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 Federal Law Search on the Court's website.