Timetable

Timeline
As soon as practicable:

• Administrator must make a declaration of relevant relationships and a declaration of indemnities.
• Administrator must investigate the company's business, property, affairs and financial circumstances
• Administrator must form an opinion about each of the following matters:

1. whether it would be in the interests of the company's creditors for the company 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.

By 5th May:

• the Directors must give to the administrator a statement about the company's business, property, affairs and financial circumstances

By 10^th May:

• convene a meeting of the company's creditors (first meeting of creditors)

by 27^th May:

• Meeting of creditors, wherer the creditors may resolve:

1. that the company execute a deed of company arrangement specified in the resolution (even if it differs from the proposed deed (if any) details of which accompanied the notice of meeting); or
2. that the administration should end; or
3. that the company be wound up.

Interesting points
1. The Directors have resigned, so who performs the obligations of the Directors to the Administrator - did this have something to do with why they resigned?
2. If it appears to the administrator of a company under administration that a past or present officer or employee, or a member, of the company may have been guilty of an offence in relation to the company give ASIC such information, and such access to and facilities for inspecting and taking copies of documents, as ASIC requires (438D). - It may be worth my while reminding Pitcher Partners of this requirement pursuant to the potential breaches that I have identified (will copy in my contact at ASIC).