In the matter of Beechworth Land Estates Pty Ltd (admins apptd) and Griffith Estates Pty Ltd (admins apptd) [2014] NSWSC 1918

Supreme Court New South Wales

Medium Neutral Citation: In the matter of Beechworth Land Estates Pty Ltd (admins apptd) and Griffith Estates Pty Ltd (admins apptd) [2014] NSWSC 1918 Hearing dates: 9 October 2014 Decision date: 09 October 2014 Jurisdiction: Equity Division - Corporations List Before: Black J Decision: Orders made modifying the operation of Pt 5.3A of the Corporations Act 2001 (Cth) in respect of second and fourth defendants such that the date on which the second meeting of creditors can be convened is extended to 28 November 2014. Liberty to apply granted to administrators in respect of any further extension of time sought. Costs of the application be costs in the administrations of second and fourth defendants. Catchwords: CORPORATIONS – voluntary administration – creditor's meeting – application by administrators for further adjournment of second meeting of creditors under Corporations Act 2001 (Cth) s 447A – where proceedings concerning validity of company's administration yet to be completed – whether adjournment in best interests of creditors. Legislation Cited: - Corporations Act 2001 (Cth) ss 436C, 439A(6), 439B(2), 447A - Corporations Regulations 2001 (Cth) reg 5.6.18(2) Cases Cited: - Re Collective Olive Groves Ltd [2009] FCA 177 - Godfrey; Re Drummoyne Sports Club Ltd (admin apptd) [2012] FCA 1210 - Mann v Abruzzi Sports Club Ltd (1994) 12 ACSR 611 - Re Diamond Press Australia Pty Ltd [2001] NSWSC 313 - Re Riviera Group Pty Ltd (admins apptd) (recs & mgrs apptd) [2009] NSWSC 585; (2009) 72 ACSR 352 Category: Procedural and other rulings Parties: James Photios (First Plaintiff) Perri Investments No 3 Pty Ltd (Second Plaintiff) James Edward Spencer (Third Plaintiff) Cleary Corporation Pty Ltd (Fourth Plaintiff) Redhill Estate Developments Pty Ltd (Fifth Plaintiff) First Debenture Ltd (Sixth Plaintiff) Neil Robert Cussen and Ezio Marco Senatore in their capacity as joint and several administrators of Beechworth Land Estates Pty Ltd (administrators appointed) (First Defendants) Beechworth Land Estates Pty Ltd (administrators appointed) (Second Defendant) Neil Robert Cussen and Ezio Marco Senatore in their capacity as joint and several administrators of Griffith Estates Pty Ltd (administrators appointed) (Third Defendants) Griffith Estates Pty Ltd (administrators appointed) (Fourth Defendant) Vangory Holdings Pty Ltd (Fifth Defendant) Vangory Services Pty Ltd (Sixth Defendant) Representation: Counsel: B F Katekar (First to Fourth Defendants)