Notice of Meeting of Creditors
Pursuant to Section 243 of the Companies Act 1993
Company No.: 612182
Introduction
In my notice to all creditors sent on 7 September 2009,
I advised my appointment as liquidator of TYREWORLD (NZ) LIMITED (in liquidation) (“the company”).
I dispensed with a meeting of creditors, citing my reasons as follows:
? There will be less than 20 cents in the dollar distribution to unsecured creditors;
? there will be insufficient assets to settle preferential creditors; and
? a meeting would cause expense and serve no useful purpose.
I further advised no creditor meeting would be called unless a creditor gave notice in writing to the liquidator, within
10 working days after receiving the notice, requiring a meeting to be called.
Meeting of Creditors Now Required
On 16 September 2009, unsecured creditor Value Tyres Limited requested a meeting of creditors pursuant to section 245(1)(b)(iii) of the Companies Act 1993 (“the Act”).
The meeting will be held at the Maitai Room at Trailways Hotel, 66 Trafalgar Street, Nelson, at 10.00am on 6 October 2009.
Purpose of Meeting
1. To confirm or otherwise the appointment of Geoff Falloon as liquidator.
2. To appoint Patrick Dean Norris, insolvency practitioner of Nelson, as liquidator of the company in place of Geoff Falloon.
3. To determine whether to pass a resolution or resolutions setting out the views of creditors of the company.
4. To deal with any other business that might properly be brought before the meeting.
Proxies
A creditor may exercise a right to vote either by being present in person or by proxy.
A proxy must be appointed by instrument in writing signed by the creditor, and the instrument must state whether the appointment is for a particular meeting or a specified term not exceeding 12 months.
A proxy may not be a creditor but is entitled to attend and be heard at the meeting as if a creditor.
A form of notice of appointment of proxy by creditor must be completed and forwarded to the liquidator at PO Box 27, Nelson 7040, not less than two working days before the start of the meeting.
Creditors Not Entitled to Vote
A person will not be entitled to vote as a creditor unless, by the time the vote is taken, the creditor has made a claim under section 304(1) or 305(4) of the Act and either:
(a) the liquidator has admitted the claim wholly or in part either for payment or for voting purposes; or
(b) the chairperson of the meeting allows the person
to vote in accordance with Regulation 20 of the Companies Act 1993 Liquidation Regulations 1994 (“the Regulations”).
A claim by an unsecured creditor, under section 304(1) of the Act, is required to be in Form 1 of the Schedule to the Regulations.
A valuation and claim by a secured creditor, under section 305(4) of the Act, is required to be in Form 2 of the Schedule to the Regulations.
Both forms are available from the liquidators.
Postal Vote
A creditor entitled to vote may exercise a right to vote by casting a postal vote in relation to any matter to be decided at the meeting.
To cast a vote, a marked voting paper must be sent to the liquidator at PO Box 27, Nelson, not less than two working days before the start of the meeting
If a creditor votes by casting a postal vote in respect of
a resolution that is to be submitted to the meeting and a different resolution is submitted to the meeting:
(a) the creditor’s postal vote is invalid in respect of that different resolution; but
(b) the creditor may vote, in respect of that different resolution, either by being present in person or by proxy.
General Notes
Enquiries for information relating to this notice or the liquidation in general should be made to Geoff Falloon, New Zealand Tax Limited, PO Box 27, Nelson. Telephone: (027) 332 6759.
Dated this 25th day of September 2009.
GEOFF FALLOON, Liquidator.