Re Iris – Pw No.1 2017 Pty Ltd (Administrators Appointed) (Receivers & Managers Appointed); Ex Parte Clifford Stuart Rocke as Joint and Several Administrator [2026] WASC 425 — Corporations & External Administration — Barrister AI
Re Iris – Pw No.1 2017 Pty Ltd (Administrators Appointed) (Receivers & Managers Appointed); Ex Parte Clifford Stuart Rocke as Joint and Several Administrator
Application by administrators to extend convening period for second creditors' meeting
Whether modification in the interests of creditors as a whole
Quick Take
1When considering an extension of the convening period for a second creditors' meeting under s 439A(6) of the Corporations Act 2001 (Cth), the court must balance the expectation of a speedy administration against the need to ensure sensible options directed at maximising returns for creditors and members are not foreclosed.
2The court will generally exercise its discretion to extend the convening period where an established category is engaged (such as facilitating a sale of company assets as a going concern), there is no evidence of material prejudice to those affected, and the administrator's time estimate has a reasonable basis.
3Orders requiring notice to creditors and granting liberty to apply to vacate or vary the extension provide appropriate protection against possible prejudice arising from the extension.
