In the matter of Palace Memories Pty Limited (Administrator Appointed) [2015] NSWSC 2029

Supreme Court New South Wales

Medium Neutral Citation: In the matter of Palace Memories Pty Limited (Administrator Appointed) [2015] NSWSC 2029 Hearing dates: 31 March 2015 Date of orders: 31 March 2015 Decision date: 31 March 2015 Jurisdiction: Equity - Corporations List Before: Brereton J Decision: Creditors' meeting adjourned until no later than 24 April 2015. Catchwords: CORPORATIONS – administration – application by administrator for adjournment of creditors' meeting beyond period permitted under (Cth) Corporations Act 2001, s 439B(2) – application for further extension to facilitate sale of business – effect of further adjournment on creditors – where adjournment will preserve only opportunity for significant benefit to creditors – where prejudice of adjournment appears inconsequential – held, adjournment granted. Legislation Cited: (Cth) Corporations Act, s 436C, s 439A, s 439B(2), s 447A (Cth) Corporations Regulations 2001, reg 5.6.18(2), Cases Cited: Collective Olive Groves Limited, in the matter of Collective Olive Groves Limited; application by Reidy [2009] FCA 177 Godfrey, in the matter of Drummoyne Sports Club Limited (Administrator Appointed) [2012] FCA 1210 In the matter of Beechworth Land Estates Pty Ltd (admins apptd) and Griffith Estates Pty Ltd (admins apptd) [2014] NSWSC 1918 In the matter of Palace Memories Pty Ltd (Administrator Appointed) [2015] NSWSC 56 Category: Procedural and other rulings Parties: Trent Devine in his capacity as Administrator of Palace Memories Pty Ltd (Administrators Appointed) ACN 151 754 853 (plaintiff) Representation: Counsel: A Smith (plaintiff)