In the matter of DSR Industries Pty Ltd [2020] NSWSC 940

In the matter of DSR Industries Pty Ltd [2020] NSWSC 940

Mr Cussen and Mr Mansfield had a financial interest in the external administrations because of their interest in the firm whose roles in the liquidations might expose them or the firm to financial loss if the liquidations were conducted inappropriately or the companies were left without an appointed liquidator. Appointing them jointly as liquidators or additional liquidators was an order in relation to the external administration of the companies under s 90-15 and would promote those administrations, while allowing for the possibility that the former liquidator's registration might later be renewed.

Jurisdiction
Australia
Judgment Date
23 April 2020
Procedural Posture
Corporations List Application Concerning Winding Up and Appointment of Liquidators / Urgent Originating Process; Ex Tempore Principal Judgment
Outcome
Applicants appointed as additional liquidators jointly.
Legal Topics
['appointment of Liquidators' 'external Administration of Companies' 'lapsed Liquidator Registration' 'court Power Under S 90 15 of the Insolvency Practice Schedule (corporations)']
['corporations' 'insolvency' 'winding Up'] ['appointment of Liquidators' 'external Administration of Companies' 'lapsed Liquidator Registration' 'court Power Under S 90 15 of the Insolvency Practice Schedule (corporations)']

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Procedural Posture

Corporations List Application Concerning Winding Up and Appointment of Liquidators / Urgent Originating Process; Ex Tempore Principal Judgment

Legal Issues

  1. 1 ["Whether s 90-15 of the Insolvency Practice Schedule (Corporations) permits the Court to appoint another person as liquidator or additional liquidator where the current liquidator's registration has expired and he cannot be contacted." 'Whether Mr Cussen and Mr Mansfield have standing under s 90-20 to seek orders in relation to the external administration of the companies.' 'Whether it is appropriate to appoint Mr Cussen and Mr Mansfield as joint liquidators or additional liquidators of the companies.']

Ratio Decidendi

Mr Cussen and Mr Mansfield had a financial interest in the external administrations because of their interest in the firm whose roles in the liquidations might expose them or the firm to financial loss if the liquidations were conducted inappropriately or the companies were left without an appointed liquidator. Appointing them jointly as liquidators or additional liquidators was an order in relation to the external administration of the companies under s 90-15 and would promote those administrations, while allowing for the possibility that the former liquidator's registration might later be renewed.

Court Disposition

Applicants appointed as additional liquidators jointly.

Orders

  • ['Mr Cussen and Mr Mansfield appointed as liquidators or additional liquidators of the companies jointly.' 'The rights of creditors and of the third person referred to in the judgment to seek to vary the orders were preserved.']