RL Adams Pty Ltd (Administrators Appointed) & Clearmedal Pty Ltd (Administrators Appointed) in its own capacity and atf The Roger and Laurel Adams and Family Trust (the “Companies”)

 

On 5 July 2017 the Administrators’ application to the Federal Court for orders extending the convening period for the conduct of the second meeting of creditors was heard.

On that date, his Honour Justice Derrington made the Orders set out below.  In particular, we draw your attention to Order 2, extending the time within which the Administrators of each of RL Adams Pty Ltd and Clearmedal Pty Ltd are to conduct the second meeting of creditors to 3 November 2017.

His Honour ordered that:

  1. Pursuant to r.8.21 of the Federal Court Rules 2011 (Cth), the plaintiffs have leave to file an amended originating application.
  1. Pursuant to s.439A(6) of the Corporations Act 2001 (Cth), the period in which the first plaintiffs must convene the second meetings of creditors of RL Adams Pty Ltd (Administrators Appointed) and Clearmedal Pty Ltd (Administrators Appointed) be extended so as to end on 3 November 2017.
  1. Pursuant to s.447A(1) of the Corporations Act, the second meetings of creditors of RL Adams Pty Ltd (Administrators Appointed) and Clearmedal Pty Ltd (Administrators Appointed) may be held at any time during, or within 5 business days after the end of, the convening period as extended by Order 2 above notwithstanding the provisions of s.439A(2) of the Corporations Act.
  1. Pursuant to s.447A(1) of the Corporations Act, the first plaintiffs shall within three business days:
    1. (a)           publish a copy of this Order on the “News & Events” section of the website maintained by the first plaintiffs’ firm, Cor Cordis, at

https://www.corcordis.com.au/home/news-events/

    ; and
    (b)           notify the respective creditors of RL Adams Pty Ltd (Administrators Appointed) and Clearmedal Pty Ltd (Administrators Appointed) of the making of this Order by:
    (i)            where the email address of the creditor is known to the first plaintiffs, sending to the creditor electronically to that email address; and
    1. (ii)           where the email address of the creditor is not known to the first plaintiffs, sending to the creditor by pre-paid post to the last known postal address of the creditor,

a letter or circular informing the creditor of the substance of this Order and enclosing a copy of this Order.

  1. The following parties have liberty to apply:
    (a)           Any person with sufficient interest to modify Orders 2, 3 or 4 above, including the Australian Securities and Investments Commission, on giving not less than three business days’ notice to the first plaintiffs.
    (b)           The first plaintiffs, for any purpose connected with the administration of RL Adams Pty Ltd (Administrators Appointed) and Clearmedal Pty Ltd (Administrators Appointed), including for the purpose of seeking a further extension or further extensions of the convening period.
  1. The first plaintiffs’ costs of this application be costs in the administrations.

If you have any questions or concerns in relation to the orders, please contact Stephen Earel of the Brisbane Cor Cordis office on (07) 3613 3600.

 

Updates

07 July 2017

Letter to creditors re extension of convening period.