Austin Australia Pty Ltd (In Admin) [2004] NSWSC 9

New South Wales Supreme Court

CITATION : Austin Australia Pty Ltd (In Admin) [2004] NSWSC 9 HEARING DATE(S) : 21 January 2004 JUDGMENT DATE : 21 January 2004 JURISDICTION: Equity JUDGMENT OF : Hamilton J DECISION : Time for convening meeting of creditors extended.

CATCHWORDS : CORPORATIONS [180] - Voluntary administration - Creditors' meeting - Application to extend time to convene - Relevant considerations. LEGISLATION CITED : Corporations Act 2001 (Cth) s 439A(6) PARTIES : Keiran William Hutchison (P1) John Raymond Gibbons (P2) FILE NUMBER(S) : SC 1145/04 COUNSEL : M D Hirst, Solicitor (P) SOLICITORS : Gadens (P)

IN THE SUPREME COURT OF NEW SOUTH WALES EQUITY DIVISION

HAMILTON J

WEDNESDAY, 21 JANUARY 2004

1145/04 AUSTIN AUSTRALIA PTY LIMITED (IN ADMINISTRATION) – APPLICATION OF K W HUTCHISON & ANOR JUDGMENT 1 HIS HONOUR: This is an application by administrators of a company for extension under s 439A(6) of the Corporations Act 2001 (Cth) of the convening period for a meeting of creditors. The reasons given for the application are that the administrators need additional time in which to investigate whether a viable proposal can be identified to be put to the creditors' meeting or whether it would be better for the company to pass into liquidation. In the course of this investigation, the administrators are investigating whether it is viable to sell the company's business as a going concern. 2 In the circumstances that appear from the affidavit of Mr Hutchinson read before me this appears to be a reasonable and proper course. It has been approved by the committee of creditors and the course is not opposed by the Westpac Bank which is the major secured creditor. In those circumstances I propose to grant an extension to 31 March 2004 as asked. 3 The orders I make are as follows: (1) I grant leave to the plaintiffs to file the originating process initialled by me returnable on 21 January 2004 at 11.00 am before me. (2) I dispense with service of the originating process. (3) I make the orders set out in form of order initialled by me and placed with the papers. (4) I direct that order 3 be entered forthwith. **********