In the matter of Oliver Brown Pty Ltd [2012] NSWSC 1046

In the matter of Oliver Brown Pty Ltd [2012] NSWSC 1046

There is no sufficient cause for continuing the injunction after the appointment of an administrator, as the risk of assets being alienated by the directors has ceased; thus, the injunction will expire in accordance with its terms.

Parties
First Plaintiff: Min Kyu Kim; Second Plaintiff: Min Jae Kim; Third Plaintiff: Don Woo Seo; Fourth Plaintiff: BMJ Chocolata Pty Ltd; Fifth Plaintiff: MTK Chocolata Pty Ltd; First Defendant: Byung Sun (Eric) Song; Second Defendant: Jacob Jihoon Kim; Third Defendant: Oliver Brown Pty Ltd (in liquidation)
Jurisdiction
Australia
Judgment Date
16 July 2012
Procedural Posture
Interlocutory Application / Application to Extend Injunction After Appointment of Administrator
Outcome
Application to extend injunction declined. Injunction to expire according to its original terms.
Legal Topics
Injunctions, Voluntary Administration, Appointment of Administrator
Corporations Law Equity Injunctions Voluntary Administration Appointment of Administrator

Case Brief

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Parties

Min Kyu Kim

First Plaintiff

Min Jae Kim

Second Plaintiff

Don Woo Seo

Third Plaintiff

BMJ Chocolata Pty Ltd

Fourth Plaintiff

MTK Chocolata Pty Ltd

Fifth Plaintiff

Byung Sun (Eric) Song

First Defendant

Jacob Jihoon Kim

Second Defendant

Oliver Brown Pty Ltd (in liquidation)

Third Defendant

Procedural Posture

Interlocutory Application / Application to Extend Injunction After Appointment of Administrator

Legal Issues

  1. 1 Whether to extend or continue an injunction restraining the defendants from dealing with company assets after the appointment of an administrator

Ratio Decidendi

There is no sufficient cause for continuing the injunction after the appointment of an administrator, as the risk of assets being alienated by the directors has ceased; thus, the injunction will expire in accordance with its terms.

Court Disposition

Application to extend injunction declined. Injunction to expire according to its original terms.

Orders

  • Proceedings adjourned to Monday 23 July 2012 in the Corporations Judge directions list.
  • No costs order made against the first defendant in respect of today's application.