Notice Purpose
State of Incorporation
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Corporations Act 2001
Subsection 439A(1)
Insolvency Practice Rules (Corporations) 2016 s75-40(1) NOTICE OF SECOND MEETING OF CREDITORS OF COMPANY UNDER ADMINISTRATION
Company details
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Company:
New Emerald Coal Pty Ltd
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ACN:
148 891 865
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Status:
Administrator Appointed
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Appointed:
21 May 2018
Meeting details
Notice is given that a second meeting of the creditors of the Company, or a second meeting for each of the Companies, (for multiple companies), will be held:
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Location:
Level 3, 95 Macquarie Street, Parramatta NSW 2150
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Meeting date:
26 June 2018
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Meeting time:
2.00pm
(If multiple companies, see special instructions for meeting times)
Agenda
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. To consider the Report and Statement by the Administrator pursuant to Section 439A(4)(a), (b) and (c) of the Corporations Act, 2001.
2. To consider and resolve one of the following proposals for the company's future:
(a) That the company enters into a Deed of Company Arrangement pursuant to Section 439C(a) of the Corporations Act (where a deed is proposed);
(b) That the administration end, pursuant to Section 439C(b); or
(c) That the company be wound up pursuant to Section 439C(c).
(d) That the meeting be adjourned. This course of action is recommended.
3. To confirm the appointment of the Voluntary Administrator as Liquidator of the company, in the event that a resolution is passed that the company be wound up.
4. To consider and approve:
The remuneration of the Administrator of the company up to the date of the execution of the Deed if one is accepted by creditors, or alternatively up to the date of the appointment of a Liquidator.
The remuneration is to be fixed, in respect of the Administrator and their employees, at the hourly rates of the Administrators' firm consistent with the Statement of Best Practice Remuneration Charging issued by the Insolvency Practitioners Association of Australia; and that the Administrator shall be authorised to draw such remuneration from time to time from monies held by them as Administrator. The remuneration is subject to an interim cap or limit, to be detailed at the creditors' meeting.
In addition to remuneration charged on a time basis, creditors will be asked to consider and approve a further fixed fee charge of $1,800 per annum, excluding GST, for each administration, to reflect the compulsory levies imposed by ASIC on insolvency practitioners.
5. To consider and approve:
The remuneration of the Deed Administrator/Liquidator from the date of execution of the Deed, if accepted, to termination of the Deed or from the date of liquidation to completion. The remuneration is to be fixed in respect of the Deed Administrator/Liquidator and their employees at the hourly rates of the Deed Administrator/Liquidator firm consistent with the Statement of Best Practice Remuneration Charging issued by the Insolvency Practitioners Association of Australia; and that the Deed Administrator/Liquidator shall be authorised to draw such remuneration from time to time from monies held by them as Deed Administrator/Liquidator. The above remuneration is subject to a cap or limit, to be detailed at the creditors' meeting.
In addition to remuneration charged on a time basis, creditors will be asked to consider and approve a further fixed fee charge of $1,800 per annum, excluding GST, for each administration, to reflect the compulsory levies imposed by ASIC on insolvency practitioners.
6. In the event that a resolution is passed that the company be wound up, to consider and if thought fit authorise the destruction of the books and records following deregistration of the company, subject to the consent of the Australian Securities and Investments Commission.
7. To consider any matter which may be properly brought before the meeting.
Proof of debt and proxies
Creditors wishing to attend are advised proofs and proxies are to be submitted to the Administrator by:
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Time:
4pm
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Date:
25 June 2018
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Date of Notice:
19 June 2018
Riad Tayeh - Voluntary Administrator
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Address
de Vries TayehLevel 3, 95 Macquarie StreetParramatta NSW 2150
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