Second Meeting Of Creditors Of Company Under Administration
Steller Continental Development Pty Ltd (Receivers And Managers Appointed)
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. At the meeting, creditors may also, by resolution adjourn the meeting for a period that must not exceed 45 business days.
2. In the event that the Company is wound up, confirm Timothy James Brace, Michael Carrafa and Peter Gountzos as the Joint and Several Liquidators of the Company;
3. To seek approval of the Joint and Several Liquidators ' remuneration and internal disbursements;
4. In the event that the Company is put into Liquidation, authorise the Joint and Several Liquidators to destroy, at their discretion, the books and records of the Company within a period of 6 months after dissolution of the Company, subject to obtaining prior approval from the Australian Securities and Investments Commission; and
5. Any other business which may be properly brought before the meeting.