In the matters of Keystone Group Holdings Pty Ltd (Receiver & Managers Appointed) (Administrators Appointed) and Others [2017] NSWSC 454

Supreme Court New South Wales

Medium Neutral Citation: In the matters of Keystone Group Holdings Pty Ltd (Receiver & Managers Appointed) (Administrators Appointed) and Others [2017] NSWSC 454 Hearing dates: 10 April 2017 Decision date: 21 April 2017 Before: Gleeson JA Decision: 10 April 2017

(1) Pursuant to s 447A(1) of the Corporations Act 2001 (Cth), orders that Pt 5.3A of the Corporations Act 2001 is to operate in relation to Second, Seventh to Twelfth, Twentieth and Thirtieth Plaintiffs (the "Companies") as if reg 5.6.18(2) of the Corporations Regulations 2001 (Cth) omitted words after "must not be adjourned to a day..." and included instead of the omitted words (namely "that is more than 45 business days after the first date on which the meeting was held") the words "later than 5 May 2017" and as if that Part allowed adjournment of the meeting convened under s 439A, Corporations Act 2001 to a day not later than 5 May 2017 despite the operation of reg 5.6.18(2), Corporations Regulations 2001.

(2) Pursuant to s 447A(1), Corporations Act 2001, orders that Pt 5.3A of that Act is to operate in respect of the Company as if reg 5.6.18(1) Corporations Regulations 2001 included a subsection (c) which read "or if the Administrator of the Company so determines - must".

(3) An order, that the First Plaintiffs give notice of these orders to all known creditors of the Second, Seventh to Twelfth, Twentieth and Thirtieth Plaintiffs and to the Australian Securities and Investments Commission by no later than 6pm on 10 April 2017.

(4) Liberty to apply to any person affected by these orders, including any creditors of the Second, Seventh to Twelfth, Twentieth and Thirtieth Plaintiffs, to vary or set aside these orders on 48 hours' notice to the First Plaintiffs and to the Court.