Lombe re Australian Discount Retail Pty Ltd [2009] NSWSC 110

New South Wales Supreme Court

CITATION : Lombe re Australian Discount Retail Pty Ltd [2009] NSWSC 110

HEARING DATE(S) : 02/03/09

JUDGMENT DATE : 3 March 2009

JURISDICTION : Equity Division Corporations List

JUDGMENT OF : Barrett J

DECISION : Order under s 447A extending convening period to 19 August 2009

CATCHWORDS : CORPORATIONS - voluntary administration - second meeting of creditors - extension of convening period - whether case for long extension made out - where special factors relevant to sale of business as going concern - one extension already made under s 439A(6) - whether s 439A(6) available to effect second extension - consideration of amendments made by Corporations Amendment (Insolvency) Act 2007 - continued availability of s 447A

LEGISLATION CITED : Corporations Act 2001 (Cth), Part 5.3A, ss 435A, 439A(2), 439A(5), 439A(6), 439A(7), 439A(8), 447A, Corporations Amendment (Insolvency) Act 2007 (Cth)

CATEGORY : Principal judgment

Bernsteen Pty Ltd v Newmore Pty Ltd (1995) 13 ACLC 1608 Carter v Global Food Equipment Pty Ltd [2007] NSWSC 901; (2007) 25 ACLC 1173 Re Daisytek Australia Pty Ltd [2003] FCA 575; (2003) 45 ACSR 446 Re Envirostar Energy Ltd [2002] NSWSC 1246 Re Henry Walker Eltin Group Ltd [2005] FCA 984; (2005) 54 ACSR 383 CASES CITED : Re LED Builders Pty Ltd [2008] NSWSC 633 Re Madden (1996) 131 FLR 430 Re South Wagga Sports & Bowling Club Ltd [2009] FCA 25 Re Vanfox Pty Ltd [1995] 2 QdR 445 Re Western National Earthmoving Corporation Pty Ltd (1997) 141 FLR 121 Watson v Uniframes Ltd & Trumbull (1994) 55 FCR 556