Griffiths, in the matter of Armorgalv (Aust) Pty Limited (Administrator Appointed) [2023] FCA 752

Federal Court of Australia

Griffiths, in the matter of Armorgalv (Aust) Pty Limited (Administrator Appointed) [2023] FCA 752 File number: NSD 651 of 2023

Judgment of: CHEESEMAN J

Date of judgment: 5 July 2023

Catchwords: CORPORATIONS — application by administrator to extend the length of an adjournment of a second creditors' meeting — where purpose of extension is to facilitate completion of sale of business — where only secured creditors and priority creditors likely to receive benefit — where sale of business if completed is likely to result in retention of existing employees by purchaser — where secured creditors and other interested stakeholder supported or did not oppose application — whether balance of interests favours extension being granted — Held: application granted.

Legislation: Corporations Act 2001 (Cth) ss 439A, 447A Insolvency Practice Rules (Corporations) 2016 (Cth) ss 75-140(1)(b), 75-140(3)

Cases cited: Bailey, in the matter of Megacrane Holdings Pty Ltd (administrator appointed) [2022] FCA 733 Georges, in the matter of Vical N.S.W Pty Ltd (Administrators Appointed) [2018] FCA 1974

Division: General Division

Registry: New South Wales

National Practice Area: Commercial and Corporations

Sub-area: Corporations and Corporate Insolvency

Number of paragraphs: 18

Date of hearing: 4 July 2023

Counsel for Plaintiff: Mr S Ipp

Solicitor for Plaintiff: Corrs Chambers Westgarth

ORDERS NSD 651 of 2023 IN THE MATTER OF ARMORGALV (AUST) PTY LIMITED (ADMINISTRATOR APPOINTED) ACN 135 866 732 MITCHELL GRIFFITHS IN HIS CAPACITY AS VOLUNTARY ADMINISTRATOR OF ARMORGALV (AUST) PTY LIMITED (ADMINISTRATOR APPOINTED) Plaintiff