Krejci, in the matter of Union Standard International Group Pty Ltd (Administrators Appointed) (No 1) [2020] FCA 1110

FEDERAL COURT OF AUSTRALIA

Krejci, in the matter of Union Standard International Group Pty Ltd (Administrators Appointed) (No 1) [2020] FCA 1110 File number: NSD 754 of 2020

Judge: STEWART J

Date of judgment: 28 July 2020

Catchwords: CORPORATIONS – application by administrators under s 439A(6) of the Corporations Act 2001 (Cth) for an extension of the convening period for the second meeting of creditors of the company – where substantial offshore activities, complex transactions and lack of access to corporate financial records – where more time needed for orderly disposal of assets and thorough assessment of proposed deed of company arrangement – where additional time likely to enhance return to creditors – application granted

Legislation: Corporations Act 2001 (Cth) ss 436A, 439A, 447A

Cases cited: Bumbak (Administrator), Re Duro Felguera Australia Pty Ltd (Administrators Appointed) [2020] FCA 422 Farnsworth v About Life Pty Ltd (Administrator Appointed) [2019] FCA 11 Mighty River International Limited v Hughes [2018] HCA 38; 265 CLR 480 Riviera Group Pty Ltd (admins apptd) (recrs & mgrs apptd) [2009] NSWSC 585; 72 ACSR 352 Silvia, in the matter of Austcorp Group Ltd (Administrators Appointed) [2009] FCA 636 Strawbridge, in the matter of Virgin Australia Holdings Ltd (administrators appointed) (No 2) [2020] FCA 717; 144 ACSR 347

Date of hearing: 28 July 2020

Registry: New South Wales

Division: General Division

National Practice Area: Commercial and Corporations

Sub-area: Corporations and Corporate Insolvency