The Court granted orders under ss 447A and 90-15 limiting the personal liability of voluntary administrators to the assets of the company in respect of liabilities arising from a Tasmanian EPA environment protection notice, on the basis that unlimited personal exposure would force the administrators to place the company into liquidation rather than pursue a going-concern sale that would maximise creditor returns. The Court also extended the convening period for the second creditors' meeting under s 439A(6) to allow an ongoing sale process to conclude, and granted a Daisytek order permitting the meeting to be held at any time during or within five business days after the extended period. The limitation of liability was expressly confined to liabilities incurred in the administrators' capacity as administrators and did not extend to personal accessorial liability as officers under s 60 of the EMPC Act.
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