Scott, in the matter of ACN 129 328 490 Pty Ltd (in liquidation) (formerly Solar Australia Pty Ltd) [2019] FCA 314

Scott, in the matter of ACN 129 328 490 Pty Ltd (in liquidation) (formerly Solar Australia Pty Ltd) [2019] FCA 314

The liquidator had not been automatically reinstated upon company registration reinstatement and, due to the company's disqualification as trustee upon entering liquidation, required appointment as receiver and manager of trust assets. The Court found it appropriate to regularise the liquidator's actions, validate acts of the company during deregistration, and grant the liquidator powers over trust assets via receiver appointment.

Parties
Liquidator and Plaintiff: Andrew John Scott; Company and Plaintiff: ACN 129 328 490 Pty Ltd (in liquidation) (formerly Solar Australia Pty Ltd); Director: John Dalby; Director: Adam John Dalby
Jurisdiction
Australia
Judgment Date
14 March 2019
Procedural Posture
Corporate Insolvency Application / Final Orders and Judgment
Outcome
Orders granted as sought.
Legal Topics
Liquidator Reappointment, Receiver and Manager Appointment, Validation of Acts Post Deregistration, Trustee Disqualification
Corporations Law Corporate Insolvency Liquidator Reappointment Receiver and Manager Appointment Validation of Acts Post Deregistration Trustee Disqualification

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Parties

Andrew John Scott

Liquidator and Plaintiff

ACN 129 328 490 Pty Ltd (in liquidation) (formerly Solar Australia Pty Ltd)

Company and Plaintiff

John Dalby

Director

Adam John Dalby

Director

Procedural Posture

Corporate Insolvency Application / Final Orders and Judgment

Legal Issues

  1. 1 Whether the liquidator should be reappointed after company deregistration
  2. 2 Whether acts by the liquidator and company during deregistration should be validated
  3. 3 Whether liquidator should be appointed as receiver and manager of trust assets

Ratio Decidendi

The liquidator had not been automatically reinstated upon company registration reinstatement and, due to the company's disqualification as trustee upon entering liquidation, required appointment as receiver and manager of trust assets. The Court found it appropriate to regularise the liquidator's actions, validate acts of the company during deregistration, and grant the liquidator powers over trust assets via receiver appointment.

Court Disposition

Orders granted as sought.

Orders

  • Mr Scott appointed as receiver and manager of the Solar Newcastle Unit Trust assets without security.
  • Receiver has powers in respect of trust assets equivalent to a receiver under s 420 of the Corporations Act 2001 (Cth), except ss 420(2)(s),(t),(u),(w).