On 20 July 2016, ERA Legal made an application on behalf of the Administrators of a number of companies for an order under section 447A of the Corporations Act 2001 (Cth) (the Act)  to modify the requirements of section 439A of the Act.

Pursuant to section 439A of the Act, an Administrator has an obligation to give written notice of the second major meeting of creditors and provide a report as to the company’s affairs.  The act of giving the notice requires that the notice and other documents be physically sent to creditors.  In this particular case the notice, report to creditors and other documents required by section 439A amounted to 200 pages which would have been required to be printed and sent to over 2,900 creditors.

For the Administrators to discharge their duty under the Act a staggering 586,600 sheets of paper needed to be printed and sent to the creditors. That is almost 75 trees or 1/5 of the trees in Hyde Park!

ERA Legal was able to obtain an order from the Supreme Court of New South Wales on behalf of the Administrators allowing the notices to be given by electronic means, and in the process, saved the trees.

For more information, please contact us.