Meeting Of Creditors

Agenda items are:

1. To consider a report from the Liquidators of the Company.



2. To consider a resolution that the remuneration of the Liquidators of Bioffice Pty Ltd (In Liquidation) for the period from 27 November 2017 to 31 January 2018 be determined at a sum equal to the cost of time spent by the Liquidators and their partners and staff of Cor Cordis, calculated at the hourly rates set out in the schedule of Cor Cordis Standard Rates effective

1 July 2017, and is approved for payment in the amount of $24,339.50 plus GST, and that the Liquidators can draw the remuneration immediately or as required.



3. To consider a resolution that the future remuneration of the Liquidators of Bioffice Pty Ltd (In Liquidation) for the period from 1 February 2018 to the end of the be determined and approved for payment at a sum equal to the cost of time spent by the Liquidators and their partners and staff of Cor Cordis, calculated at the hourly rates set out in the schedule of Cor Cordis Standard Rates effective 1 July 2017, up to a capped amount of $60,000 plus GST, and that the Liquidators can draw the remuneration on a monthly basis or as required.



4. To consider a resolution that the liquidators be authorised to compromise any debt owing to the Company at their discretion and not otherwise be subject to the limitations under section 477(2A) of the Corporations Act 2001.



5. To consider a resolution that the liquidators be authorised to enter into an agreement lasting longer than three months at their discretion and not otherwise be subject to the limitations under section 477(2B) of the Corporations Act 2001.



6. Any other business that may lawfully arise.



Other matters:



7. Entitlement to vote at meetings of creditors - section 75-85 of the Insolvency Practice Rules (Corporations) 2016. The effect of this section is:



(1) A person other than a creditor (or the creditor?s proxy or attorney) is not entitled to vote at a meeting of creditors.



(2) Subject to subsections (3), (4) and (5), each creditor is entitled to vote and has one vote.



(3) A person is not entitled to vote as a creditor at a meeting of creditors unless:

(a) his or her debt or claim has been admitted wholly or in part by the external administrator; or

(b) he or she has lodged, with the person presiding at the meeting, or with the person named in the notice convening the meeting as the person who may receive particulars of the debt or claim:

(i) those particulars; or

(ii) if required?a formal proof of the debt or claim.



(4) A creditor must not vote in respect of:

(a) an unliquidated debt; or

(b) a contingent debt; or

(c) an unliquidated or a contingent claim; or

(d) a debt the value of which is not established;

unless a just estimate of its value has been made.



(5) A creditor must not vote in respect of a debt or a claim on or secured by a bill of exchange, a promissory note or any other negotiable instrument or security held by the creditor unless he or she is willing to do the following:

(a) treat the liability to him or her on the instrument or security of a person covered by subsection (6) as a security in his or her hands;

(b) estimate its value;

(c) for the purposes of voting (but not for the purposes of dividend), to deduct it from his or her debt or claim.



(6) A person is covered by this subsection if:

(a) the person?s liability is a debt or a claim on, or secured by, a bill of exchange, a promissory note or any other negotiable instrument or security held by the creditor; and

(b) the person is either liable to the company directly, or may be liable to the company on the default of another person with respect to the liability; and

(c) the person is not an insolvent under administration or a person against whom a winding up order is in force.



8. If a creditor wishes to be represented at the meeting by an attorney, the creditor must arrange for the power of attorney to be produced to the Liquidator at or before the meeting.



9. Creditors wishing to participate in the meeting by using electronic facilities must return to this office not later than the second-last business day before the day of the meeting, a written statement setting out the name of the person and of the proxy or attorney (if any), an address to which notices to the person, proxy or attorney may be sent and a method by which the person, proxy or attorney may be contacted for the purposes of the meeting. A form of written statement is available from this office upon request.