White, in the matter of Mossgreen Pty Ltd (Administrators Appointed) (No 5) [2018] FCA 1847

Because the Court had previously set a clear deadline for the commencement of trust claims by unpaid vendors, and none—including the applicants—brought proceedings in time, the discretionary factors against granting leave were compelling and justified refusal of leave to proceed.

Jurisdiction: Australia
Judgment Date: 27 November 2018
Procedural Posture: Corporations – Application for Leave to Proceed Against Company in Liquidation / Decision on Interlocutory Application for Leave to Proceed Under S 500(2) of the Corporations Act
Outcome: Application dismissed with costs.
Legal Topics: ['leave to Proceed Against Company in Liquidation' 'trust Claims in Liquidation' 'proof of Debt Procedure']

['corporations Law' 'insolvency'] ['leave to Proceed Against Company in Liquidation' 'trust Claims in Liquidation' 'proof of Debt Procedure']

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Procedural Posture

Corporations – Application for Leave to Proceed Against Company in Liquidation / Decision on Interlocutory Application for Leave to Proceed Under S 500(2) of the Corporations Act

Legal Issues

1 ['Whether leave should be granted to proceed against the company in liquidation after the imposed deadline for trust claims expired' 'Whether the applicants have an arguable trust claim over the proceeds of sale held by the company']

Ratio Decidendi

Court Disposition

Application dismissed with costs.

Orders

['The Interlocutory Process of 25 October 2018, as amended on 2 November 2018, be dismissed with costs.']