McCallum, in the matter of Basslink Pty Ltd (Receivers and Managers Appointed) (Administrators Appointed) [2021] FCA 1556

Federal Court of Australia

McCallum, in the matter of Basslink Pty Ltd (Receivers and Managers Appointed) (Administrators Appointed) [2021] FCA 1556 File number(s): VID 724 of 2021

Judgment of: DAVIES J

Date of judgment: 10 December 2021

Catchwords: CORPORATIONS – company in voluntary administration – application for orders pursuant to s 477A(1) and 439A(6) of the Corporations Act 2001 (Cth) (Corporations Act) that convening period for second meeting of creditors be extended – where size and scope of the business is substantial – where the extension will enable the sale of the business as a going concern – where application in the best interests of creditors – where application is in the public interest – where key stakeholders do not oppose extension – application granted

Legislation: Corporations Act 2001 (Cth) ss 436A, 439A, 447A(1) Insolvency Practice Rules (Corporations) 2016 (Cth) s 75-225(3)

Cases cited: Strawbridge, in the matter of Virgin Australia Holdings Ltd (administrators appointed) (No 2) [2020] FCA 717; (2020) 144 ACSR 347

Division: General Division

Registry: Victoria

National Practice Area: Commercial and Corporations

Sub-area: Corporations and Corporate Insolvency

Number of paragraphs: 12

Date of hearing: Determined on the papers

Solicitor for the Plaintiffs: Allens

ORDERS VID 724 of 2021 IN THE MATTER OF BASSLINK PTY LTD (RECEIVERS AND MANAGERS APPOINTED) (ADMINISTRATORS APPOINTED) (ACN 090 996 231) & ORS BETWEEN: STEWART McCALLUM, ADAM NIKITINS AND COLBY O'BRIEN, IN THEIR CAPACITY AS JOINT AND SEVERAL ADMINISTRATORS OF BASSLINK PTY LTD (RECEIVERS AND MANAGERS APPOINTED) (ADMINISTRATORS APPOINTED) (ACN 090 996 231) First Plaintiff