Corporate Project Services Pty Ltd placed in voluntary administration

Corporate Project Services Pty Ltd, a New South Wales company trading as Penrith Signs, Corporate Project Services Group, Sign Project Services and CPS Power and Home Project Services, entered voluntary administration on 13 October, according to an ASIC notice published 15 October.

The notice, a combined notice of appointment and first meeting of creditors, states the company itself, ACN 640 162 689, resolved to appoint administrators under section 436A of the Corporations Act. It names Schon Gregory Condon and Antony Resnick as joint administrators of the company, with a DVT McLeods contact email for creditors. The notice cites paragraph 436E(3)(b) and paragraph 450A(1)(b) of the Corporations Act, under regulations 5.3A.03A and 5.3A.07A, as the basis for combining the appointment notice with the first creditors’ meeting notice into a single filing.

Why it matters

Voluntary administration hands day-to-day control of a company’s affairs to external administrators while its future is decided, whether that is a deed of company arrangement, a return to the directors’ control, or liquidation. The notice does not state the company’s debts, the reason for the appointment, or any financial figures, and none is asserted here beyond what the record shows. It is unrelated to a separate NSW notice naming four builders and trades facing winding-up applications on 14 October; the two filings name different companies.

The numbers

The notice was published on 15 October, two days after the 13 October appointment. Creditors wishing to attend the first meeting were required to lodge proofs of debt and proxies with the administrators by 4:00pm on 21 October. That first meeting was listed for 11:00am on 23 October, at Suite 2, Level 2, 60 Phillip Street, Parramatta, with a Microsoft Teams option for remote attendance. The notice gives the administrators’ postal address as PO Box 453, Parramatta NSW 2124.

What’s next

The notice set the agenda for the 23 October meeting: whether to appoint a committee of inspection and, if so, who sits on it. Creditors could also, by resolution, remove the administrators and appoint others in their place. No outcome of that meeting is on the public record cited here, and the notice does not disclose what happens beyond it.