Federal Court of Australia
Federal Court of Australia
Tucker (Administrator) v Bolten (Trustee), in the matter of Quintis Leasing Pty Ltd (Administrators Appointed) (No 2) [2024] FCA 46 File number: WAD 332 of 2023
Judgment of: BANKS-SMITH J
Date of judgment: 30 January 2024
Date of publication of reasons: 2 February 2024
Catchwords: CORPORATIONS - application under s 447A(1) and s 443B(8) of the Corporations Act 2001 (Cth) to modify operation of the five-business day period in s 443B(2) and s 443B(3) of the Act - where company leases property utilised in sandalwood plantation managed investment schemes - complex corporate group structure and operations - where separate application on foot to wind up schemes - where administrators seek to investigate potential for a sale or recapitalisation that preserves leases - where first extension of grace period limiting liability of administrators under s 443B already granted - second shorter extension sought - whether modification of the operation of s 443B in the interests of creditors as a whole - whether limit on wet season maintenance will prejudice lessors - whether personal liability of administrators with respect to leases should be excluded until extended date - two-week extension granted CORPORATIONS - application under s 439A of the Corporations Act 2001 (Cth) for extension of time for convening second meeting of creditors - applicable principles - two-week extension granted
Legislation: Corporations Act 2001 (Cth) ss 435A, 439A, 440B, 443A, 443B, 443D, 447A, Part 5.3A
Cases cited: Algeri (Administrator), in the matter of Murray & Roberts Pty Ltd (Administrators Appointed) [2022] FCA 1506 Algeri (Administrator), in the matter of Murray & Roberts Pty Ltd (Administrators Appointed) (No 2) [2022] FCA 1563 Algeri, in the matter of WBHO Australia Pty Ltd (Administrators Appointed) (No 2) [2022] FCA 234 Diamond Press Australia Limited [2001] NSWSC 313 In the matter of Harrisons Pharmacy Pty Limited (Administrators Appointed) (Receivers and Managers Appointed) [2013] FCA 458 In the matter of Renex Holdings (Dandenong) 1 Pty Ltd (administrators appointed) [2015] NSWSC 2002 In the matter of Riviera Group Pty Ltd (admins apptd) (recs & mgrs apptd) [2009] NSWSC 585 Mighty River International Limited v Hughes [2018] HCA 38; (2018) 265 CLR 480 Nipps (Administrator) v Remagen Lend ADA Pty Ltd, in the matter of Adaman Resources Pty Ltd (Administrators Appointed) (No 2) [2021] FCA 577 Shaw and Albarran (Joint and Several Administrators of Home Art Building Group Pty Ltd (Administrators Appointed)) v Home Art Building Group Pty Ltd (Administrators Appointed) [2016] WASC 274 Strawbridge, in the matter of Virgin Australia Holdings Ltd (administrators appointed) (No 2) [2020] FCA 717 Tucker, in the matter of Quintis Leasing Pty Ltd [2023] FCA 1673 Woodhouse (Administrator), in the matter of Panoramic Resources Limited [2024] FCA 22
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