Second Meeting Of Creditors Of Company Under Administration

Mjc Fire Protection Pty Ltd

ACN: 155639366

ABN: 16155639366

Published: 6/10/2017

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 determine the past and future remuneration of the administrators. The following resolutions are proposed:



(a) That the remuneration of the administrators of MJC Fire Protection Pty Ltd (Administrators Appointed) for the period from 7 September 2017 to 1 October 2017 be determined at a sum equal to the cost of time spent by the administrators 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 $46,918 plus GST, and that the administrators can draw the remuneration immediately or as required.



(b) That the future remuneration of the administrators of MJC Fire Protection Pty Ltd (Administrators Appointed) for the period from 2 October 2017 to 13 October 2017 be determined and approved for payment at a sum equal to the cost of time spent by the administrators 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 $15,000 plus GST, and that the administrators can draw the remuneration on a monthly basis or as required.



2. To consider a resolution that the internal disbursements of the administrators of MJC Fire Protection Pty Ltd (Administrators Appointed) and their firm for the period of the administration be calculated as per the method and rates set out in the remuneration approval report dated 6 October 2017 and approved for payment up to a capped amount of $2,000 plus GST and that payment of internal disbursements incurred can be made on a monthly basis or as required.



3. To appoint someone else as liquidator(s) (as applicable).



4. If the Company is wound up, to consider the following resolutions:



a) That the future remuneration of the liquidators of MJC Fire Protection Pty Ltd (Administrators Appointed) for the period from 13 October 2017 to the end of the liquidation 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 $45,000 plus GST, and that the liquidators can draw the remuneration on a monthly basis or as required.



b) That the internal disbursements of the liquidators of MJC Fire Protection Pty Ltd (Administrators Appointed) and their firm for the period of the liquidation be calculated as per the method and rates set out in the remuneration approval report dated 6 October 2017 and approved for payment up to a capped amount of $2,000 plus GST and that payment of internal disbursements incurred can be made on a monthly basis or as required.



c) That the liquidators be authorised to destroy the books and records of the Company six months after deregistration of the Company, subject to obtaining prior approval of the Australian Securities and Investments Commission.



5. To consider appointing a committee of inspection and, if so, who are to be the committee ' s members.



6. Any other business that may lawfully arise.

Cor Cordis Chartered Accountants

Melbourne VIC 3000
E-mail: scummins@corcordis.com.au