Second Meeting Of Creditors Of Company Under Administration

Gs Australia Pty Ltd (formerly Known As Glorious Sun (Australia) Pty Ltd)

ACN: 091122020

ABN: 45091122020

Gs Corp Services Pty Ltd (formerly Known As Glorious Sun Corporate Services Pty Ltd)

ACN: 091122002

ABN: 41091122002

Jw Corporation Pty Ltd (formerly Known As Jeanswest Corporation Pty Ltd)

ACN: 007305839

ABN: 61007305839

Jw Wholesale Pty Ltd (formerly Known As Jeanswest Wholesale Pty Ltd)

ACN: 074258807

ABN: 51074258807

Jwi (A) Pty Ltd (formerly Known As Jeanswest Investments (Australia) Pty Ltd)

ACN: 074258781

ABN: 44074258781

Published: 7/5/2020

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 determine the remuneration of the administrator(s)
  2. to determine the future remuneration of the administrator(s)
  3. to determine the deed administrator(s) and or liquidator(s) future remuneration if appointed
  4. if the company is wound up, to consider the appointment of a committee of inspection and, if so, who are to be the committee members
  5. if the company is wound up to consider the early destruction of books and records
  6. any other business

7. to determine the internal disbursements of the administrator(s)

8. If it is resolved that the Group be wound up, consider whether, pursuant to Section 477(2A) of the Corporations Act 2001 (the Act), creditors authorise the Liquidators to compromise a debt owed to the Group over $100,000.

9. If it is resolved that the Company be wound up, consider whether, pursuant to Section 477(2B) of the Corporations Act 2001, creditors authorise the Liquidators to enter into any agreement on the Company?s behalf where:

a. the term of the agreement may end; or

b. obligations of a party to the agreement may, according to the terms of the agreement, be discharged by performance; more than three months after the agreement is entered into

Kpmg

E-mail: jeanswestcreditors@kpmg.com.au