Paper: The Administrator's Casting Vote
In brief: Regulations 5.6.11 - 5.6.36A of the Corporations Regulations 2001 (the Regulations) apply to the convening, conduct of and voting at all creditors' meetings (as well as meetings of members, committees of inspection and committees of creditors) convened under Parts 5.3A, 5.4, 5.4B, 5.5 and 5.6 of the Corporations Act 2001 (Cth) (the Act) which deal with voluntary administration, deeds of company arrangement and liquidation. These regulations apply unless they are inconsistent with a specific requirement of the Act or the Regulations or the rules (Regulation 5.6.11).
Presented at 7th Annual Practical Insolvency Conference – 12 March 2008.
This paper concentrates on the requirements relating specifically to the liquidator's or administrator's power to exercise a casting vote at creditors' meetings and issues that arise in respect of the use of the casting vote. Unless otherwise stated, references in this paper to sections and regulations are to the applicable parts of the Act and Regulations.
For more, download the paper (as an adobe acrobat pdf – 60KB).
For further information, please contact:
- Michael QuinlanPartner,
Sydney
Ph: +61 2 9230 4411
Michael.Quinlan@aar.com.au - Michael PopkinSenior Associate,
Sydney
Ph: +61 2 9230 4247
Michael.Popkin@aar.com.au
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