Second Meeting Of Creditors Of Company Under Administration

Palm Beach Developments Pty Ltd

ACN: 101716081

ABN: 49101716081

Published: 13/8/2020

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. to consider the appointment of an alternative deed administrator(s) or liquidator(s)
  5. 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
  6. if the company is wound up to consider the early destruction of books and records
  7. any other business

To consider the approval of annual administration charge;

For creditors to resolve that:

(a) The second meeting of the Company?s creditors be adjourned for no longer than 45 business days and that the Administrator be given the discretion to convene the adjourned second meeting at any time prior to the expiration of the relevant adjournment period; or

(b) A Deed of Company Arrangement be executed by the Company (if any); or

(c) That the Company be wound up; or

(d) The Administration of the Company should end.



IN THE EVENT PALM BEACH DEVELOPMENTS PTY LTD EXECUTE DOCA

To consider the nomination of a person(s) to be Deed Administrator(s);

To consider approval of the Deed Administrator(s) remuneration;

Jirsch Sutherland

E-mail: timothyp@jirschsutherland.com.au