Sarantinos, in the matter of Payless Shoes Pty Ltd (Administrators Appointed) [2016] FCA 1512

FEDERAL COURT OF AUSTRALIA

Sarantinos, in the matter of Payless Shoes Pty Ltd (Administrators Appointed) [2016] FCA 1512 File number: NSD 2120 of 2016

Judge: YATES J

Date of judgment: 9 December 2016

Catchwords: CORPORATIONS – voluntary administration – application to extend the convening period for the second meeting of creditors

Date of hearing: 9 December 2016

Registry: New South Wales

Division: General Division

National Practice Area: Commercial and Corporations

Sub-area: Corporations and Corporate Insolvency

Category: Catchwords

Number of paragraphs: 13

Counsel for the Plaintiffs: Mr J Hynes

Solicitor for the Plaintiffs: Jones Day

ORDERS NSD 2120 of 2016 IN THE MATTER OF PAYLESS SHOES PTY LTD (ADMINISTRATORS APPOINTED) ACN 162 529 455 JIM SARANTINOS, JAMES STEWART AND PETER GOTHARD AS JOINT AND SEVERAL VOLUNTARY ADMINISTRATORS OF PAYLESS SHOES PTY LTD (ADMINISTRATORS APPOINTED) ACN 162 529 455 First Plaintiffs

PAYLESS SHOES PTY LTD (ADMINISTRATORS APPOINTED) ACN 162 529 455 Second Plaintiff

JUDGE: YATES J DATE OF ORDER: 9 DECEMBER 2016

THE COURT ORDERS THAT:

1. Pursuant to s 439A(6) of the Corporations Act 2001 (Cth) (the Act), the convening period for the meeting of creditors of Payless Shoes Pty Ltd (administrators appointed) (the Company) required to be held pursuant to s 439A of the Act be extended up to midnight on 20 March 2017. 2. Pursuant to s 447A(1) of the Act, and in respect of the Company, Pt 5.3A of the Act operate as if: (a) section 439A(1) of the Act also provided that the second meeting of creditors of the Company required by that section may be convened at any time within the convening period (including within the convening period as extended pursuant to section 439A(6)); (b) section 439A(2) of the Act provided that the second meeting of creditors of the Company must be held within five business days from being convened in accordance with s 439A(3) and (4), being a date not necessarily within five business days from the end of the convening period (including the convening period as extended pursuant to s 439A(6)); and (c) section 439A of the Act operated generally to permit the convening and holding of the second meeting of creditors of the Company during the convening period (including the convening period as extended pursuant to section 439A(6)) provided the requirements of s 439A(3) and (4) are complied with. 3. With respect to: (a) those creditors (including persons claiming to be creditors) of the Company for whom the plaintiffs have a current post, facsimile or email address (the Known Creditors); and (b) the Australian Securities and Investments Commission (ASIC), the plaintiffs inform the Known Creditors and ASIC of these orders by means of a circular forwarded by post, facsimile or email (as appropriate) within seven days. 4. With respect to all creditors of the Company for whom the plaintiffs do not have a current post, facsimile or email address, the plaintiffs are to inform those creditors of these orders by making copies of the documents filed in these proceedings (together with these orders) available on the website maintained by Ferrier Hodgson at https://www.ferrierhodgson.com/au/creditors/payless-shoes within seven days. 5. The following parties be granted liberty to apply on giving all other interested parties not less than three business days' notice: (a) any person, including any Known Creditors or ASIC, who can demonstrate a sufficient interest to modify or discharge Orders 1 and/or 2; and (b) the plaintiffs. 6. The costs of and incidental to the originating process dated 9 December 2016 be costs and expenses in the administration of, and be paid out of the assets of, the Company. Note: Entry of orders is dealt with in Rule 39.32 of the Federal Court Rules 2011.