Lakeside Village Pty Ltd (Admin Apptd) [2004] NSWSC 378

New South Wales Supreme Court

CITATION : Lakeside Village Pty Ltd (Admin Apptd) [2004] NSWSC 378 HEARING DATE(S) : 4 May 04 JUDGMENT DATE : 4 May 2004 JURISDICTION: Equity JUDGMENT OF : Hamilton J DECISION : Order made permitting administrators to convene meeting prior to the period of five business days after the end of the convening period.

CATCHWORDS : CORPORATIONS [178] - Voluntary administration - General power to make orders - Order permitting administrators to convene meeting prior to the period of five business days after the end of the convening period. LEGISLATION CITED : Corporations Act 2001 (Cth) ss 439A(6), 447A CASES CITED : Australasian Memory Pty Limited v Brien (2000) 200 CLR 270 Re Brash's Pty Limited (Subject to Deed of Company Arrangement) (1994) 13 ACLC 110 PARTIES : Lakeside Village Pty Ltd (Admin Apptd) (P) FILE NUMBER(S) : SC 2684/04 COUNSEL : C D Wood (P) SOLICITORS : Minter Ellison (P)

IN THE SUPREME COURT OF NEW SOUTH WALES EQUITY DIVISION

HAMILTON J

TUESDAY, 4 MAY 2004

2684/04 LAKESIDE VILLAGE PTY LIMITED (Administrators Appointed) JUDGMENT 1 HIS HONOUR: This is an application for the extension of the convening period of the second meeting of creditors of a number of companies in a group made under s 439A(6) of the Corporations Act 2001 (Cth) ("the CA"). The reasons given in support of the orders sought have been summarised by Mr C D Wood, of counsel for the administrators, as follows:

1 The companies are members of a group of companies, which has added to the complexity of the administration.

2 The administrators "went in over the top of receivers" [to use his colourful phrase], that is, there were already receivers appointed by the secured creditor in the companies when the administration commenced.