Second Meeting Of Creditors Of Company Under Administration

Walzed Pty Ltd

ACN: 166647605

Published: 4/9/2020

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

1. To consider the Report on Company Activities and Property of the Company

2. To consider the circumstances leading up to the administration and the various options available to creditors.

3. To fix the remuneration and disbursements of the Voluntary Administrators.

4. For creditors to resolve upon one of the following: -

(a) that the Company be wound up;

(b) that the administration should end; or

(c) that the Company execute a Deed of Company Arrangement (DOCA).

5. If the Company is placed into a DOCA, to fix the remuneration and disbursements of the Deed Administrators.

6. If the Company is wound up, to fix the remuneration and disbursements of the Liquidators.

7. If the Company is wound up, to consider the appointment of a Committee of Inspection.

8. If the Company is wound up, to consider the destruction of books and records.

9. To fix the estimated administration charge to recover the ASIC supervisory cost recovery levy.

10. Any other business that may be lawfully brought forward.

Romanis Cant

E-mail: bgrech@romaniscant.com.au