Second Meeting Of Creditors Of Company Under Administration

Ocean For Earth Pty Ltd

ACN: 125560198

ABN: 65125560198

Planet Green Corporation Pty Ltd

ACN: 139071177

ABN: 17139071177

Smart Plastics Pty Ltd

ACN: 601574903

ABN: 64601574903

Published: 6/10/2021

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 appointed, to authorise the Liquidators of Smart Plastics Pty Ltd to enter into an agreement, the terms of which exceed three months, pursuant to Section 477(2B) of the Corporations Act 2001.

6. If appointed, to authorise the Liquidators of Planet Green Corporation Pty Ltd to compromise a debt owed to the company in excess of $100,000 pursuant to Section 477(2A) of the Corporations Act 2001

7. If appointed, to authorise the Liquidators of Planet Green Corporation Pty Ltd to enter into an agreement, the terms of which exceed three months, pursuant to Section 477(2B) of the Corporations Act 2001.

8. Any other business

Pricewaterhousecoopers

E-mail: luke.sonnberger@pwc.com