Dickerson, in the matter of McWilliam’s Wines Group Ltd (subject to Deed of Company Arrangement) (No 4)

The case involves an application to extend the period in which a meeting of creditors may be adjourned for McWilliam's Wines Group Ltd and Mount Pleasant Wines Pty Ltd, which were subject to a deed of company arrangement. The application was brought by the deed administrators, and the respondent, Dickerson, did not oppose the application. The applicants sought to extend the period in which the meeting of creditors could be adjourned to allow time to find a new deed proponent or purchaser of some or all of the companies' businesses. The court was required to determine whether it was appropriate to make the orders sought by the deed administrators. The court noted that the extension sought related to the fifteen business days period of possible adjournment specified in s 75-140(2) of the IP Rules and not a period specified in Part 5.3A. The court also considered the objects set out in s 435A, which have application to the exercise of powers under the IP Schedule to the extent to which it relates to Part 5.3A. The court concluded that it was appropriate to make the orders sought by the deed administrators, as the extension would not materially prejudice stakeholders and the committee of inspection had approved the application. The court also noted that the orders permitted ASIC and any aggrieved creditor to apply to the Court in relation to them.
The court granted the application and made orders extending the period in which the meeting of creditors could be adjourned. The orders provided that the meeting could be resumed at any time before or within 61 business days from 2 February 2021, provided that the applicants gave notice of the time and date of the resumption of the meeting to all persons to whom notice must be given under s 75-10 of the IPR no less than five business days before the resumption of the meeting. The applicants were also required to provide notice of these orders to all creditors of the companies and to ASIC. The applicants' costs of and incidental to this application were costs in the deed administration of each of the companies, jointly and severally. Liberty to apply was granted to any person who could demonstrate sufficient interest, including any creditor of the companies or ASIC, to make any application as they may be advised to vary or discharge these orders on three business days' notice to the applicants and to the Court.