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Corporations Act 2001
Schedule 2 - Insolvency Practice Schedule (Corporations) s75-10(a)
Insolvency Practice Rules (Corporations) 2016 s75-40(1)

NOTICE OF MEETING OF CREDITORS

Company details

Company: OZ Dairy Leasing Pty Ltd
ACN: 604 033 972
Status: Subject to a Deed of Company Arrangement
Appointed: 22 May 2019

Meeting details

Notice is given that a meeting of the creditors of the Company, or a meeting for each of the Companies, (for multiple companies), will be held:

Location: BCR Advisory, Level 14, 60 Margaret Street, Sydney 2000 NSW
Meeting date: 04 October 2019
Meeting time: 10:00 AM

(If multiple companies, see special instructions for meeting times)

Agenda

Agenda items are:

  • to fix or determine the remuneration of the external administrator(s)
  • to fix or determine the future remuneration of the external administrator(s)
  • any other business

    • 1. To approve internal disbursements of the Deed Administration pursuant to IPS 60-20.

    2. For creditors to resolve that the Deed of Company Arrangement dated 22 May 2019 be amended as follows:

    a.The Deed Proponent's name be changed on page 1 of the Deed to "Aus Dairy Holdings Pty Ltd."
    b.Under the heading "Parties" on page 2, point 3 of the Deed, The Deed Proponent's name be changed to "Aus Dairy Holdings Pty Ltd."
    c.Remove the following definitions from Clause 1.1:
    i."Flexirent means Flexirent Capital Pty Ltd ABN 93 064 046 046";
    ii."Flexirent Payment means the sum of $154,000 plus GST to be paid to Flexirent"; and
    iii."Master Rental Agreement means the rental agreement made between Flexirent Capital Pty Ltd and the Company dated on or about 31 May 2015."
    d.Remove Clause 6.1(a)(E): "subject to clause 9, the Flexirent Payment."
    e.Inserting the following words into Clause 6.1(a)(G): "?(but only to the extent a Secured Creditor's debt is not satisfied out of the realization of any Securities held by the Secured Creditor)?"
    f.Remove Clause 7.1(v): "fifthly, subject to clause 9, payment to Flexirent of the Flexirent Payment; and."
    g.Inserting the following words into Clause 7.1(vi): "?(but only to the extent a Secured Creditor's debt is not satisfied out of the realization of any Securities held by the Secured Creditor)?"
    h.Remove Clause 9.3:
    "Flexirent
    (a) Subject to Flexirent discharging any registration it has on the Personal Property Securities Register, Flexirent shall be entitled to be paid the Flexirent Payment from the Deed Fund.
    (b) For the avoidance of doubt Flexirent shall be entitled to prove as an unsecured creditor for the balance of any moneys owing to it under the Master Rental Agreement after deducting the Flexirent Payment."
    i.The words "B Nicholls Holdings Pty Ltd" be replaced with "Aus Dairy Holdings Pty Ltd" on page 18.
    and that the Deed Administrators be allowed to execute a Deed of Variation to give effect to the above amendments.

    Proof of debt and proxies

    Creditors wishing to attend are advised proofs and proxies are to be submitted to the external administrator by:

    Time: 4:00 PM
    Date: 02 October 2019

    Date of Notice: 19 September 2019

    Geoffrey Davis
    Deed Administrator

    John Morgan
    Joint Appointees

    Address BCR Advisory
    Level 14, 60 Margaret Street
    SYDNEY NSW 2000
    Contact person Tom Vandermeer
    Contact number 02 9220 0750
    Facsimile 02 9220 0777
    Email Tom.Vandermeer@bcradvisory.com.au