In the matter of William John Fletcher and Katherine Barnet as liquidators of Octaviar Ltd [2012] NSWSC 547

In the matter of William John Fletcher and Katherine Barnet as liquidators of Octaviar Ltd [2012] NSWSC 547

Given the consent of the only parties who might be affected, and the liquidators’ ongoing investigations, it is appropriate to vary the orders to extend time for applications under s 588FF(1) in respect of OIN and OIB.

Parties
First Plaintiffs: William John Fletcher and Katherine Elizabeth Barnet as Liquidators of Octaviar Limited (Receivers and Managers Appointed) (In Liquidation) and Octaviar Administration Pty Ltd (In Liquidation); Second Plaintiff: Octaviar Limited (Receivers and Managers Appointed) (In Liquidation); Third Plaintiff: Octaviar Administration Pty Ltd (In Liquidation)
Jurisdiction
Australia
Judgment Date
30 March 2012
Procedural Posture
Corporations Variation of Orders / Interlocutory Application for Variation of Orders
Outcome
Orders varied as sought; time for making applications under s 588FF(1) Corporations Act 2001 (Cth) in respect of OIN and OIB extended to 3 April 2013.
Legal Topics
Extension of Time Under S 588 Ff(1) Corporations Act 2001 (cth), Variation of Court Orders, Corporations – Liquidators’ Claims
Corporations Law Extension of Time Under S 588 Ff(1) Corporations Act 2001 (cth) Variation of Court Orders Corporations – Liquidators’ Claims

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Parties

William John Fletcher and Katherine Elizabeth Barnet as Liquidators of Octaviar Limited (Receivers and Managers Appointed) (In Liquidation) and Octaviar Administration Pty Ltd (In Liquidation)

First Plaintiffs

Octaviar Limited (Receivers and Managers Appointed) (In Liquidation)

Second Plaintiff

Octaviar Administration Pty Ltd (In Liquidation)

Third Plaintiff

Procedural Posture

Corporations Variation of Orders / Interlocutory Application for Variation of Orders

Legal Issues

  1. 1 Whether to vary previous orders to extend time for making applications under s 588FF(1) Corporations Act 2001 (Cth) in respect of certain respondents
  2. 2 Whether consent of potential respondents justifies the extension

Ratio Decidendi

Given the consent of the only parties who might be affected, and the liquidators’ ongoing investigations, it is appropriate to vary the orders to extend time for applications under s 588FF(1) in respect of OIN and OIB.

Court Disposition

Orders varied as sought; time for making applications under s 588FF(1) Corporations Act 2001 (Cth) in respect of OIN and OIB extended to 3 April 2013.

Orders

  • The order of the Court made on 19 September 2011 is varied by adding after the words '3 April 2012' the following words: 'Except in the case of any application against any of Octaviar Investment Notes Limited (In Liquidation) and Octaviar Investment Bonds Limited (In Liquidation) in respect of which the time for...
  • These orders are to be entered forthwith.