|
ORDERS
A. Convening the EGM
1. An Extraordinary General Meeting ("EGM") of the Body Corporate for the Gold
Coast Financial Centre CIS 27049 ("the Body Corporate")
will be held at 12.OOpm
on Friday, 6 May 2005 at Level 5. Gold Coast Financial Centre, 128 Bundall Road,
Bundall in the State of
Queensland.
2. The 21 day statutory notice period for convening the EGM is dispensed
with.
3. Mr Trevor John Schmierer, the Administrator, ("Administrator" or "Mr
Schmierer") appoints Ben Seccombe of Porter Davies Lawyers,
as his
representative to attend the EGM. B. Lot Holders’
Contributions
4. The Lot Holders’ Contributions are set as follows:
Lot No. Contribution % Amount
1 40 6.67 $ 8,004
2 60 10.02 $ 12,024
3 16 2.62 $ 3,144
4 34 5.62 $ 6,744
5 50 8.32 $ 9,984
6 100 16.67 $ 20,004
7 24 4.01 $ 4,812
8 76 12.68 $ 15,216
9 100 16.68 $ 20,016
10 37 6.18 $ 7,416
11 42 7.02 $ 8,424
12 21 3.51 $ 4,212
600 100.00 $120,000
C. Payment of Lot Holders’ Contributions
2
5. Lot Holders’ Contributions are deemed paid in full
by:
(a) the Lot Holders causing to be opened a bank account in the name of the
"Body Corporate for the Gold Coast Financial Centre CTS
27049" ("the Body
Corporate Account"); and
(b) the Lot Holders providing to Mr Seccombe, prior to the commencement of the
EGM, proof of the existence of the Body Corporate
Account, for which sufficient
proof will be the delivery of a bank statement evidencing a credit balance of
$120,000.00 in the Body
Corporate Account.
6. Any further contribution, penalty or payment of interest levied or charged by
the body corporate is discounted and/or waived pursuant
to regulation 81(5) of
the Body Corporate and Community Management (Commercial Module) Regulation
1997.
7. By operation of orders 5 and 6, the Lot Holders will each be financial (and
therefore each capable of voting at a general meeting).
D. Procedure at EGM
8. The procedure at the EGM will be as
follows:
(a) Ben Seccombe, for and on behalf of the Administrator, will propose a motion
that the administration be ended and that Robert
Slobodan Sukic be appointed
Chairman and Secretary of the Body Corporate ("the motion");
(b) the motion will be put to a vote;
(c) if the motion is passed, Ben Seccombe will hand over to the Body Corporate,
or its legal
representative:
i. all books, records and other materials in the possession of Knights
Insolvency or the said Trevor John Schmierer relevant to
the Body Corporate and
or its administration;
ii. all documents in the possession of Porter Davies Lawyers relating to or
arising from Magistrates Court proceeding number Ml
154 of 2005; and
iii. a cheque, in the amount of not less than $23,523.13, made payable to the
Bell Legal Group Trust Account on account of the
Body
Corporate.
(d) upon passing the motion the Administration is ended;
(e) the Administrator must do all such acts reasonably necessary to ensure the
control of the Body Corporate passes from the Administrator
to the Chairman and
Secretary as elected; and
(f) if the motion is not passed, the matter will be returned back to Douglas
Savage SC, Specialist Adjudicator, for
resolution.
3
E. Mechanism for Payment of Administrator’s Costs
9. The Administrator estimates that his further fees will be no more than the
sum $15,000.00. Accordingly, and without prejudice
to the Administrator’s
right to recover any fees in excess of that sum from the Body Corporate, Bell
Legal is authorised to
immediately transfer the sum of $8,523.13 to the Body
Corporate Account, without further order or authority.
10. Subject to order 9 and 12, the funds paid into the Trust Account of Bell
Legal Group will not be disbursed in the absence of
either:
a. a signed authority from the Lot Owners or legal representatives and the
solicitors for Trevor John Schmierer; or
b. a further order of the Specialist Adjudicator including an order assessing
the Administrator’s costs.
11. Mr Schmierer must deliver within 14 days of 6 May 2005 to the Body Corporate
an itemised bill of his costs.
12. Bell Legal Group is entitled upon receipt of that bill to transfer to the
Body Corporate the amount from its trust account which
exceeds the total amount
of the Administrator’s bill including disbursements, less the sum
$19,203.78 which has already been
debited to the Administrator ("the debited
amount").
13. Within seven days of receipt of Mr Schmierer’s bill, the Body
Corporate will advise which, if any, of those costs are disputed,
by way of a
notice of objection, and will pay to Mr Schmierer, within 7 days, any undisputed
amount in excess of the debited amount.
14. Within seven days of receipt of the Body Corporate’s notice of
objection, Mr Schmierer will:
a. give written reasons explaining or responding to the Body Corporate’s
notice of objection; and
b. provide the Body Corporate with a formal offer to settle any dispute with
respect to the amount of the Administrator’s
costs.
15. Within seven days of receipt of Mr Schmierer’s written reasons and
formal offer to settle, the Body Corporate will provide
Mr Schmierer with
either:
a. a written notice accepting Mr Schmierer’s offer to settle; or
4
b. a counter-offer to settle any dispute with respect to the amount of the Mr
Schmierer’s costs.
16. If, within seven days of the receipt by Mr Schmierer of the Body
Corporate’s counter offer, the parties have not settled
the dispute as to
the Administrator’s costs, the matter will be referred to the Specialist
Adjudicator for determination.
17. In the event that:
a. the Specialist Adjudicator makes an order that the costs of the
Administrator are equal to, or more than, Mr Schmierer’s
offer to settle,
the Body Corporate will pay Mr Schmierer’s costs of and incidental to the
assessment of costs on an indemnity
basis; and
b. the Specialist Adjudicator makes an order that the costs of the
Administrator are equal to, or less than, the Body Corporate’s
offer to
settle, Mr Schmierer will pay the Body Corporate’s costs of and incidental
to the assessment of costs on an indemnity
basis.
18. Within seven days of either:
a. the Body Corporate accepting Mr Schmierer’s formal offer to settle;
or
b. Mr Schmierer accepting the Body Corporate’s formal counter-offer to
settle; or
c. the parties agreeing upon the amount of the Administrator’s costs;
or
d. the Specialist Adjudicator handing down a decision on costs:
-:and, in the further event that:
e. the agreed or assessed amount is more than the debited amount, the Body
Corporate will pay to Mr Schmierer the surplus out of
the funds held in trust by
Bell Legal; or
f. the agreed or assessed amount is less than the debited amount, Mr Schrnierer
will pay to the Body Corporate the
difference.
19. Notwithstanding, orders 9 to 16, in the event that Mr Schmierer receives,
subsequent to the date of this order, invoices for
payment, Mr Schmierer is at
liberty to pass such invoices on to the Body Corporate to be paid.
20. Other than set out above, and other than to give effect to these orders, Mr
Schmierer will do nothing in the administration
without the express written
consent of Bell Legal
5
Group, the solicitors for Shangri-La Corporation Pty Ltd and City Pacific
Investments Pty Ltd or further order of the
Tribunal.
|
