Villani, in the matter of Bounty Mining Limited (administrators appointed) (receivers and managers appointed) [2020] FCA 24

FEDERAL COURT OF AUSTRALIA

Villani, in the matter of Bounty Mining Limited (administrators appointed) (receivers and managers appointed) [2020] FCA 24 File number: QUD 13 of 2020

Judge: PERRAM J

Date of judgment: 21 January 2020

Catchwords: CORPORATIONS – application by administrators for extension of convening period for second meeting of creditors under Corporations Act 2001 (Cth) ss 439A(6) and 447A(1) – where investigations into companies incomplete – where administration complex – where receivers and managers simultaneously considering sale of business as a going concern – consideration of potential benefit to creditors – whether five month extension sought unduly long

Legislation: Corporations Act 2001 (Cth) Pt 5.3A, ss 438B, 439A, 447A

Cases cited: Mann v Abruzzi Sports Club Ltd (1994) 12 ACSR 611 Mighty River International Limited v Hughes [2018] HCA 38; 92 ALJR 822 Re Renex Holdings (Dandenong) 1 Pty Ltd (admins apptd) [2015] NSWSC 2002 Re Riviera Group Pty Ltd (admins apptd) (recs and mgrs apptd) [2009] NSWSC 585; 72 ACSR 352

Date of hearing: 21 January 2020

Registry: Queensland

Division: General Division

National Practice Area: Commercial and Corporations

Sub-area: Corporations and Corporate Insolvency

Category: Catchwords

Number of paragraphs: 12

Counsel for the Plaintiffs: Mr T F Ritchie

Solicitor for the Plaintiffs: McCullough Robertson Lawyers

ORDERS QUD 13 of 2020 IN THE MATTER OF BOUNTY MINING LIMITED (ADMINISTRATORS APPOINTED) (RECEIVERS AND MANAGERS APPOINTED) ACN 107 411 067 JARROD VILLANI AND ROBERT HUTSON AS JOINT AND SEVERAL ADMINISTRATORS OF BOUNTY MINING LIMITED (ADMINISTRATORS APPOINTED) (RECEIVERS AND MANAGERS APPOINTED) ACN 107 411 067 AND EACH OF THE OTHER COMPANIES LISTED IN THE SCHEDULE Plaintiffs