Second Meeting Of Creditors Of Company Under Administration

Empire Oil & Gas Nl

ACN: 063613730

ABN: 55063613730

Published: 24/10/2017

The purpose of the meeting(s) is:

  1. to receive the report by the Administrator(s) about the business, property, affairs and financial circumstances of the Company(ies); and
  2. to receive a statement of Administrator(s) opinion and reasons for the opinion:
    1. whether it would be in the creditors ' interests for the Company(ies) to execute a deed of company arrangement;
    2. whether it would be in the creditors ' interests for the administration to end;
    3. whether it would be in the creditors ' interests for the company to be wound up;
  3. to receive a statement of such other information known to the administrator as will enable the creditors to make an informed decision about the matters at paragraphs 2(a) (c) above;
  4. to receive details of any transactions that appear to the Administrator(s) to be a voidable transaction in respect of which money, property, or other benefits may be recoverable by a liquidator under part 5.7B of the Act
  5. to receive details of any proposed deed of company arrangement; and
  6. for the creditors of the Company(ies) to resolve that:
    1. the Company(ies) execute a deed of company arrangement; or
    2. the administration(s) should end; or
    3. the Company(ies) be wound up.

Other agenda items are:

1. To consider a statement by the Directors about the Companys business, property, affairs and financial circumstances.

2. To resolve that the Second Meeting be adjourned for a period not exceeding forty-five (45) business days.

3. If it is resolved that the Company be wound up, and an alternate Liquidator is proposed, consider whether creditors wish to appoint the alternate Liquidator.

4. If it is resolved that the Company be wound up, consider whether a Committee of Inspection is to be appointed, and if so, the members of that Committee.

5. If it is resolved that the Company be wound up, consider whether, subject to obtaining the approval of the Australian Securities & Investments Commission (ASIC) pursuant to Section 70-35 of Schedule 2 to the Act, the books and records of the Company and of the Liquidators may be disposed of by the Liquidators 12 months after the dissolution of the Company or earlier at the discretion of ASIC.

6. To fix the remuneration of the Administrators.

7. If it is resolved that the Company execute a Deed of Company Arrangement, to fix the remuneration of the Deed Administrators.

8. If it is resolved that the Company be wound up, to fix the remuneration of the Liquidators.

9. Any other business that may be lawfully brought forward.

Ferrier Hodgson

E-mail: tim.rose@fh.com.au