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239AK: Conduct of creditors' meetings
or “How creditors' meetings are run and decisions are made”
You could also call this:

“Creditors of related companies in administration can meet together if everyone agrees”

When companies that are related to each other are in administration, their administrators can arrange for the creditors of these companies to meet at the same time and place. This is called a joint meeting. However, they can only do this if all the creditors agree.

If you’re a creditor of one of these companies, you can only vote on matters that relate to the company you have a claim against, even in a joint meeting.

The administrators will send you a notice about the joint meeting. If you don’t object to it in the way the notice explains, it’s assumed you’ve agreed to the joint meeting.

The notice you get will be in writing and include important details. It will tell you the administrator’s postal, email, and street addresses. It will list the names of the related companies involved in the joint meeting. The notice will also explain how you can object to the joint meeting if you want to. It will tell you where to send your objection and by when.

The administrator gets to decide how much time to give you to object, but it has to be a reasonable amount of time considering the situation.

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Next up: 239AM: Related creditor’s vote disregarded unless court orders otherwise

or “Court approval needed for related creditors' votes in company administration”
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Part 15A Voluntary administration
Creditors' meetings generally

239ALJoint meetings of creditors of related companies in administration

  1. The administrators of related companies may call meetings of creditors of their respective companies to be held at the same time and place, but only with the consent of all the creditors.

  2. In the case of a joint meeting, a creditor of a company in administration may vote only on a resolution that relates to the administration of the company of which that person is a creditor.

  3. For the purposes of subsection (1), a creditor is taken to have consented to the joint meeting if—

  4. a written notice that complies with subsection (4) accompanies the notice of meeting; and
    1. the creditor has not objected to the joint meeting within the time, and in the manner, specified in the written notice.

      1. The notice must—

      2. be in writing; and
        1. state the administrator's postal, email, and street addresses; and
          1. state the names of the related companies in respect of which the joint meeting is to be held; and
            1. state that the creditor to whom it is sent may object to the joint meeting by sending a written objection to the administrator at the administrator's postal, email, or street address for receipt by the administrator within the time specified in the notice; and
              1. state that, unless the creditor objects in accordance with the notice, the creditor will be taken to have agreed to the joint meeting.

                1. For the purposes of subsection (4)(d), the administrator may in his or her discretion determine the time for receipt of an objection, but must specify a time that is reasonably practicable in the circumstances.

                Notes
                • Section 239AL: inserted, on , by section 6 of the Companies Amendment Act 2006 (2006 No 56).