Naudi, in the matter of ACN 156 335 787 Pty Ltd (in liq) [2017] FCA 815

Naudi, in the matter of ACN 156 335 787 Pty Ltd (in liq) [2017] FCA 815

The Court may make orders for the removal and appointment of liquidators on cause shown under ss 473(1), 473(7), and 503 of the Corporations Act 2001 (Cth), including where the resignation is for better conduct of the liquidation. The Court has power to make such orders even when other superior courts made the original appointment, and may appoint joint and several liquidators from the same firm to ensure continuity and efficiency, subject to procedural compliance.

Jurisdiction
Australia
Judgment Date
24 July 2017
Procedural Posture
Application for Removal and Appointment of Liquidators / Judgment and Orders
Outcome
Plaintiffs are to be heard as to the form of the orders. Court prepared to grant orders for removal and appointment of liquidators, subject to amendment, with ASIC to be advised and liberty to apply granted.
Legal Topics
['external Administration' 'removal and Appointment of Liquidators']
['corporations'] ['external Administration' 'removal and Appointment of Liquidators']

Case Brief

Summary, issues, holding and outcome

More case intelligence is available

Unlock the full research layer for this judgment.

Full judgment text Downloadable case file Legal principles 1 Authorities cited 2 Party arguments 1 Amounts and remedies 1
Sign in to unlock

Procedural Posture

Application for Removal and Appointment of Liquidators / Judgment and Orders

Legal Issues

  1. 1 ['Whether the Court should remove and appoint liquidators under ss 473(1), 473(7), and 503 of the Corporations Act 2001 (Cth).' 'Whether the Federal Court has power to make orders under s 473(7) where appointments were made by other superior courts.' 'What is the appropriate procedure for replacement of liquidators on resignation.']

Ratio Decidendi

The Court may make orders for the removal and appointment of liquidators on cause shown under ss 473(1), 473(7), and 503 of the Corporations Act 2001 (Cth), including where the resignation is for better conduct of the liquidation. The Court has power to make such orders even when other superior courts made the original appointment, and may appoint joint and several liquidators from the same firm to ensure continuity and efficiency, subject to procedural compliance.

Court Disposition

Plaintiffs are to be heard as to the form of the orders. Court prepared to grant orders for removal and appointment of liquidators, subject to amendment, with ASIC to be advised and liberty to apply granted.

Orders

  • ['The plaintiffs be heard as to the form of the orders.' "ASIC be advised of the Court's orders." 'Liberty to apply granted.']