In the matter of University Co-operative Bookshop Limited (admins apptd) [2019] NSWSC 1898

Supreme Court New South Wales

Medium Neutral Citation: In the matter of University Co-operative Bookshop Limited (admins apptd) [2019] NSWSC 1898 Hearing dates: 17 December 2019 Date of orders: 17 December 2019 Decision date: 17 December 2019 Jurisdiction: Equity - Corporations List Before: Black J Decision: Orders made extending time for convening second meeting of creditors. Catchwords: CORPORATIONS – external administration – application under s 439A(6) of the Corporations Act 2001 (Cth) to extend the period within which the second meeting of creditors must be convened – where further time required to investigate options for obtaining value for companies – where complex administration operating a business as a going concern – whether convening period for second meeting of creditors should be extended. Legislation Cited: - Acts Interpretation Act 1901 (Cth) s 10 - Co-operatives (Adoption of National Law) Act 2012 (NSW) - Co-operatives National Law Sch 4, cl 6 - Corporations (Ancillary Provisions) Act 2001 (NSW) s 19(1)(a) - Corporations Act 2001 (Cth) Pt 5.3A; ss 447A - Corporations Regulations 2001 (Cth) - Insolvency Practice Rules (Corporations) 2016 (Cth) - Insolvency Practice Schedule (Corporations) Cases Cited: - Re Belmont Sportsmans Club Co-Operative Ltd (admins apptd) [2015] NSWSC 543 - Re Renex Holdings (Dandenong) 1 Pty Ltd (admins apptd) [2015] NSWSC 2002 - Re Riviera Group Pty Ltd (admins apptd) (recs and mgrs apptd) [2009] NSWSC 585; (2009) 72 ACSR 352 - Re Wiggins Island Coal Export Terminal Pty Ltd [2018] NSWSC 1342 Category: Principal judgment Parties: Philip Patrick Carter, Andrew John Scott and Daniel Austin Walley as joint and several administrators of University Co-operative Bookshop Limited (admins apptd) and Co Info Pty Ltd (admins apptd) (Plaintiffs) Representation: Counsel: M A Izzo SC/C McMeniman (Plaintiffs)