Notice is given that a second meeting of the creditors of the Company, or a second meeting for each of the Companies, (for multiple companies), will be held:
(If multiple companies, see special instructions for meeting times)
The purpose of the meeting(s) is:
Other agenda items are:
1. To determine the past and future remuneration of the administrators. The following resolutions are proposed:(a) "That the remuneration of the Administrators of Acquire Learning & Careers Pty Ltd (Administrators Appointed) for the period from 11 January 2018 to 29 January 2018 be determined at a sum equal to the cost of time spent by the Administrators and their partners and staff of Cor Cordis, calculated at the hourly rates set out in the schedule of Cor Cordis Standard Rates effective 1 July 2017, and is increased for payment from $85,000.00 plus GST to $136,707.00 plus GST, and that the Administrators can draw the remuneration immediately or as required."(b) "That the remuneration of the Administrators of Acquire Learning & Careers Pty Ltd (Administrators Appointed) for the period from 30 January 2018 to 23 March 2018 be determined and approved for payment at a sum equal to the cost of time spent by the Administrators and their partners and staff of Cor Cordis, calculated at the hourly rates set out in the schedule of Cor Cordis Standard Rates effective 1 July 2017, up to a capped amount of $164,107.00 plus GST, and that the Administrators can draw the remuneration on a monthly basis or as required."(c) "That the future remuneration of the Administrators of Acquire Learning & Careers Pty Ltd (Administrators Appointed) for the period from 24 March 2018 to the meeting on 5 April 2018 be determined and approved for payment at a sum equal to the cost of time spent by the Administrators and their partners and staff of Cor Cordis, calculated at the hourly rates set out in the schedule of Cor Cordis Standard Rates effective 1 July 2017, up to a capped amount of $80,000.00 plus GST, and that the Administrators can draw the remuneration on a monthly basis or as required."2. To allow any AL employee with outstanding superannuation entitlements to vote on an informal and non-binding basis whether the Company should execute the proposed DOCA, in circumstances where the ATO is formally voting on behalf of the AL employees;3. To consider a resolution (as applicable): "That the future remuneration of the Administrators of Acquire Learning & Careers Pty Ltd (Administrators Appointed) for the period from 5 April 2018 to execution of the Deed of Company Arrangement be determined and approved for payment at a sum equal to the cost of time spent by the Administrators and their partners and staff of Cor Cordis, calculated at the hourly rates set out in the schedule of Cor Cordis Standard Rates effective 1 July 2017, up to a capped amount of $60,000.00 plus GST, and that the Administrators can draw the remuneration on a monthly basis or as required."4. To appoint someone else as Deed Administrator(s) or Liquidator(s) (as applicable). 5. To consider a resolution (as applicable):"That the future remuneration of the Deed Administrators and the Trustees of the Creditors' Trustof Acquire Learning & Careers Pty Ltd (Administrators Appointed) for the period from executionof the deed of company arrangement to conclusion of the Creditors' Trust be determined andapproved for payment at a sum equal to the cost of time spent by the Deed Administrators andthe Trustees and their partners and staff of Cor Cordis, calculated at the hourly rates set out inthe schedule of Cor Cordis Standard Rates effective 1 July 2017, up to a capped amount of$200,000 plus GST, and that the Deed Administrators and the Trustees can draw theremuneration on a monthly basis or as required."6. To consider a resolution (as applicable):"That the internal disbursements of the Deed Administrators and the Trustees of the Creditors' Trust of Acquire Learning & Careers Pty Ltd (Administrators Appointed) and their firm for the period of the deed of company arrangement and Creditors' Trust be calculated as per the method and rates set out in the remuneration approval report dated 27 March 2018 and approved for payment up to a capped amount of $3,000 plus GST and that payment of internal disbursements incurred can be made on a monthly basis or as required."7. If the Company is wound up, to consider the following resolutions:(a) "That the future remuneration of the Liquidators of Acquire Learning & Careers Pty Ltd (Administrators Appointed) for the period from commencement on 5 April 2018 to the end of the liquidation be determined and approved for payment at a sum equal to the cost of time spent by the Liquidators and their partners and staff of Cor Cordis, calculated at the hourly rates set out in the schedule of Cor Cordis Standard Rates effective 1 July 2017, up to a capped amount of $500,000 plus GST, and that the Liquidators can draw the remuneration on a monthly basis or as required."(b) "That the internal disbursements of the Liquidators of Acquire Learning & Careers Pty Ltd (Administrators Appointed) and their firm for the period of the liquidation be calculated as per the method and rates set out in the remuneration approval report dated 27 March 2018 and approved for payment up to a capped amount of $3,000 plus GST and that payment of internal disbursements incurred can be made on a monthly basis or as required."(c) "That the Liquidators be authorised to destroy the books and records of the Company six months after deregistration of the Company, subject to obtaining prior approval of the Australian Securities and Investments Commission."8. To consider appointing a committee of inspection and, if so, who are to be the committee's members.9. Any other business that may lawfully arise.Other matters:10. If a creditor wishes to be represented at the meeting by an attorney, the creditor must arrange for the power of attorney to be produced to the administrators at or before the meeting.11. Creditors wishing to participate in the meeting by using electronic facilities must return to this office not later than the second-last business day before the day of the meeting, a written statement setting out the name of the person and of the proxy or attorney (if any), an address to which notices to the person, proxy or attorney may be sent and a method by which the person, proxy or attorney may be contacted for the purposes of the meeting. A form of written statement is available from this office upon request.
Creditors wishing to attend are advised proofs and proxies are to be submitted to the Administrator by:
Creditors wishing to attend by electronic means are advised they can utilise the following facility:
Creditors wishing to participate in the meeting by using electronic facilities must return to the external administrator not later than the second-last business day before the day of the meeting, a written statement setting out
i. the name of the person and of the proxy or attorney, (if any); and ii. an address to which notices to the person, proxy or attorney may be sent; and iii. a method by which the person, proxy or attorney may be contacted for the purposes of the meeting.
Barry WightAdministrator
Bruno Secatore & Sam KasoJoint Appointees