Second Meeting Of Creditors Of Company Under Administration
New Emerald Coal Pty Ltd
The purpose of the meeting(s) is:
- to receive the report by the Administrator(s) about the business, property, affairs and financial circumstances of the Company(ies); and
- to receive a statement of Administrator(s) opinion and reasons for the opinion:
- whether it would be in the creditors ' interests for the Company(ies) to execute a deed of company arrangement;
- whether it would be in the creditors ' interests for the administration to end;
- whether it would be in the creditors ' interests for the company to be wound up;
- 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;
- 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
- to receive details of any proposed deed of company arrangement; and
- for the creditors of the Company(ies) to resolve that:
- the Company(ies) execute a deed of company arrangement; or
- the administration(s) should end; or
- the Company(ies) be wound up.
Other agenda items are:
1. To consider the Supplementary Report and Statement by the Administrator pursuant to Section 439A(4)(a), (b) and (c) of the Corporations Act, 2001.
2. To consider and resolve one of the following proposals for the company ' s future:
(a) That the company enters into a Deed of Company Arrangement pursuant to Section 439C(a) of the Corporations Act. This course of action is recommended; or
(b) That the administration end, pursuant to Section 439C(b); or
(c) That the company be wound up pursuant to Section 439C(c).
(d) That the meeting be adjourned.
3. To confirm the appointment of the Voluntary Administrator as the Deed Administrator/Liquidator of the company, in the event that a resolution is passed that the company executed the proposed DOCA/be wound up.
4. To consider and approve various remuneration resolutions of Voluntary Administrator/ Deed Administrator/ Liquidator/ Creditors ' Trust Trustee.