In the matter of Pinnacle Drilling Pty Ltd (admins apptd) & Ors [2015] NSWSC 1051

Supreme Court New South Wales

Medium Neutral Citation: In the matter of Pinnacle Drilling Pty Ltd (admins apptd) & Ors [2015] NSWSC 1051 Hearing dates: 20 May 2015 Decision date: 20 May 2015 Jurisdiction: Equity Division - Corporations List Before: Black J Decision: Order for the extension of the convening period for second meeting of creditors. Orders in accordance with short minutes of order. Catchwords: CORPORATIONS – administration – creditor's meeting – where contemplated sale of the business of the company – where the employees of the company would be benefited by the sale of the business – where several significant creditors and the employees of the Company consent to the extension – whether extension of convening period of second meeting of creditors under s 439A(6) of the Corporations Act 2001 (Cth). Legislation Cited: - Corporations Act 2001 (Cth) ss 439A(6) Cases Cited: - Darin Re Palamedia Ltd [2010] NSWSC 451 - Re Mothercare Australia Ltd (admin apptd) [2013] NSWSC 263 - Re Owen; RiverCity Motorway Pty Ltd (admins apptd) (recs & mgrs apptd) v Madden (No 4) [2012] FCA 1491; (2012) 92 ACSR 255 - Re Pan Pharmaceuticals Ltd [2003] FCA 598; (2003) 46 ACSR 77 - Re Riviera Group Pty Limited (admin apptd) (recs and mgrs appt) [2009] NSWSC 585; (2009) 72 ACSR 352 - Silvia, in the matter of Austcorp Group Ltd (admins apptd) [2009] FCA 636 Category: Principal judgment Parties: Vaughan Strawbridge and Neil Cussen in their capacity as administrators of Pinnacle Drilling Pty Ltd (admins apptd) (ACN 052 316 579); Pinnacle Drilling Underground Pty Ltd (admins apptd) (ACN 129 163 837); Zig Zag Investments Pty Ltd (admins apptd) (ACN 002 053 321) (Applicants) Representation: Counsel: D R Stack (Applicants)