Krejci, in the matter of Union Standard International Group Pty Ltd (Administrators Appointed) (No 4) [2020] FCA 1252

Krejci, in the matter of Union Standard International Group Pty Ltd (Administrators Appointed) (No 4) [2020] FCA 1252

Second respondent was not entitled to revoke administrator access; administrators' undertaking continues, and administrator access must be restored to protect company. Evidence insufficient to resolve alleged breaches or justify court intervention in trading decisions; interlocutory relief not granted immediately as further evidence is needed.

Jurisdiction
Australia
Judgment Date
07 August 2020
Procedural Posture
Corporations – Application by Administrators / Interlocutory Orders Following Urgent Application
Outcome
Orders made restoring administrator access; interlocutory application adjourned indefinitely; costs reserved.
Legal Topics
['administrator Access to Trading Platforms' 'injunctions in Administration' 'trading Restrictions and Company Property']
['corporations' 'corporate Insolvency'] ['administrator Access to Trading Platforms' 'injunctions in Administration' 'trading Restrictions and Company Property']

Case Brief

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Procedural Posture

Corporations – Application by Administrators / Interlocutory Orders Following Urgent Application

Legal Issues

  1. 1 ["Whether administrators are entitled to 'administrator access' to MT4 and MT5 trading platforms" 'Whether second respondent may impede or revoke administrator access' 'Whether administrators breached undertakings regarding use of trading platforms' "Whether court should intervene in administrators' trading decisions affecting clients"]

Ratio Decidendi

Second respondent was not entitled to revoke administrator access; administrators' undertaking continues, and administrator access must be restored to protect company. Evidence insufficient to resolve alleged breaches or justify court intervention in trading decisions; interlocutory relief not granted immediately as further evidence is needed.

Court Disposition

Orders made restoring administrator access; interlocutory application adjourned indefinitely; costs reserved.

Orders

  • ["The second respondent provide the applicants with 'administrator access' to the MT4 and MT5 Platforms forthwith." "The second respondent be restrained, until further order, from impeding, varying or revoking the 'administrator access' provided pursuant to Order 1." "The second respondent's Interlocutory Process...