In the matter of Canberra Eye Hospital Pty Ltd (Administrator Appointed) [2015] NSWSC 2030

Supreme Court New South Wales

Medium Neutral Citation: In the matter of Canberra Eye Hospital Pty Ltd (Administrator Appointed) [2015] NSWSC 2030 Hearing dates: 4 May 2015 Date of orders: 04 May 2015 Decision date: 04 May 2015 Jurisdiction: Equity - Corporations List Before: Brereton J Decision: Administrators permitted to adjourn second meeting of creditors, whether or not quorum at meeting achieved. Catchwords: CORPORATIONS – voluntary administration – jurisdiction and powers of court – orders modifying operation of (Cth) Corporations Act 2001, Pt 5.3A under s 447A – order to permit adjournment of second creditors' meeting – where purpose of adjournment to enable sale of company's business – utility of sale to shareholders and creditors – where preferable not to interfere with creditors' right to decide upon further adjournment – risk that quorum at second creditors' meeting will not be achieved – conferral of power on administrator to adjourn meeting in event that quorum not achieved. Legislation Cited: (Cth) Corporations Act 2001, s 439A, s 439B(2), s 447A (Cth) Corporations Regulations 2001, reg 5.6.18(1), 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 Category: Procedural and other rulings Parties: Jamieson Louttit in his capacity as administrator of Canberra Eye Hospital Pty Ltd ACN 087 417 918 (Plaintiff) Representation: Counsel: A G Martin (plaintiff)