Australian World-Wide Proprietary Limited v Christopher John Palmer [2014] NSWSC 141

Supreme Court New South Wales

Medium Neutral Citation: Australian World-Wide Proprietary Limited v Christopher John Palmer [2014] NSWSC 141 Hearing dates: Tuesday, 18 February 2014 Decision date: 18 February 2014 Jurisdiction: Equity Division - Corporations List Before: Brereton J Decision: (1) Pursuant to Corporations Act, s 439A(6), the period within which the third plaintiff must convene a second meeting of creditors of the companies within the meaning of s 439A(1) of the Act be extended up to and including 1 May 2014. (2) Pursuant to Corporations Act, s 447A(1), the meetings of the creditors of the companies required to be held by s 439A of the Act may be held at any time during or within five business days after the end of the convening period as extended by order 1, notwithstanding the provisions of s 439A(2) of the Act. (3) Leave be granted to any person affected by these orders including any creditors of both of the companies to make any such application as he or she may be advised to vary these orders on forty-eight hours notice to the plaintiffs and to the Court. (4) The third plaintiff is entitled to be indemnified out the assets of each the companies for the costs of and incidental to this application pursuant to Corporations Act, s 443D. (5) The third plaintiff provide a copy of these orders to each of the creditors, the companies and to the Australian Securities and Investments Commission. Catchwords: CORPORATIONS - voluntary administration - creditor's meeting - application for extension of convening period of a meeting - where a deed of company arrangement may be proposed Legislation Cited: (Cth) Corporations Act 2001, s 439A, s 447A, s 459G Cases Cited: Carter v Global Food Equipment Proprietary Limited [2007] NSWSC 901; (2007) 25 ACLC 1173 Re Daisy Tek Australia Pty Limited [2003] FCA 575; (2003) 45 ACSR 446 Re Georges, Midas Australia Pty Ltd (admin apptd) [2009] FCA 38 Re Hayes; Estate Property Group Ltd [2007] FCA 935 Re Henry Walker Eltin Group Ltd [2005] FCA 316 Re Diamond Press Australia Proprietary Limited [2001] NSWSC 313 Re New Horizons Pty Ltd [2004] NSWSC 253 Re Pan Pharmaceuticals [2003] FCA 598 Re Riviera Group [2009] NSWSC 585; (2009) 72 ACSR 352 Category: Interlocutory applications Parties: Australian Worldwide Pty Limited (administrator appointed) ACN 148 116 616 (first plaintiff) Australian Worldwide Exports Pty Limited (administrator appointed) ACN 163 788 618 (second plaintiff) Christopher John Palmer in his capacity as administrator of Australian Worldwide Pty Limited (administrator appointed) ACN 148 116 616 and Australian Worldwide Exports Pty Limited (administrator appointed) ACN 163 788 618 (third plaintiff) Representation: Counsel: D R Stack (plaintiffs) Solicitors: ERA Legal (plaintiffs) File Number(s): 2014/51160