Second Meeting Of Creditors Of Company Under Administration

Priority Group Industries Pty Ltd (Administrator Appointed)

ACN: 613936191

Published: 12/10/2018

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;

2. to determine the future remuneration of the Administrator;

3. to determine the liquidator ' s future remuneration if appointed;

4. to consider the appointment of an alternate liquidator(s) (if applicable);

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; and

7. any other relevant business.

Worrells Solvency & Forensic Accountants

E-mail: Sid.arora@worrells.net.au