Owen, in the matter of Rivercity Motorway Management Limited (in Liquidation) (No 2) [2016] FCA 708

Owen, in the matter of Rivercity Motorway Management Limited (in Liquidation) (No 2) [2016] FCA 708

Having read the extensive evidence, including Mr Owen's affidavit sworn 3 June 2016, the relevant financial matters, and the factual material concerning the mediation of complex integrated disputes, the Court was satisfied that it was appropriate to make the foreshadowed directions and approval orders under ss 477(2B) and 511, and to make confidentiality orders in an expansive form until the settlement had been effected.

Jurisdiction
Australia
Judgment Date
06 June 2016
Procedural Posture
Application Under Ss 477(2 B) and 511 of the Corporations Act 2001 (cth) for Directions and Approval for Liquidators to Enter Into and Carry Out a Settlement Deed, and for Confidentiality Orders / Ex Tempore Reasons for Judgment on Application Heard on 6 June 2016
Outcome
Application granted; confidentiality orders and substantive orders for directions and approval to be made in the terms discussed at the hearing and submitted to Chambers.
Legal Topics
["liquidators' Powers" 'court Directions to Liquidators' 'approval of Settlement Deed' 'confidentiality Orders' 'mediation Settlement']
['corporations' 'corporate Insolvency'] ["liquidators' Powers" 'court Directions to Liquidators' 'approval of Settlement Deed' 'confidentiality Orders' 'mediation Settlement']

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Procedural Posture

Application Under Ss 477(2 B) and 511 of the Corporations Act 2001 (cth) for Directions and Approval for Liquidators to Enter Into and Carry Out a Settlement Deed, and for Confidentiality Orders / Ex Tempore Reasons for Judgment on Application Heard on 6 June 2016

Legal Issues

  1. 1 ["Whether it was a proper exercise of the applicants' powers and functions as liquidators for RCMML, in its own capacity and as responsible entity of the Trusts, to enter into the Settlement Deed dated 31 May 2016 and carry out obligations under it." "Whether approval should be given under s 477(2B) of the Corporations Act 2001 (Cth) for the applicants to enter into the Settlement Deed on RCMML's behalf." 'Whether confidentiality orders should be made for the affidavit of Michael Andrew Owen sworn 3 June 2016, exhibit MAO-3, and unredacted submissions containing sensitive mediation and insurer information.']

Ratio Decidendi

Having read the extensive evidence, including Mr Owen's affidavit sworn 3 June 2016, the relevant financial matters, and the factual material concerning the mediation of complex integrated disputes, the Court was satisfied that it was appropriate to make the foreshadowed directions and approval orders under ss 477(2B) and 511, and to make confidentiality orders in an expansive form until the settlement had been effected.

Court Disposition

Application granted; confidentiality orders and substantive orders for directions and approval to be made in the terms discussed at the hearing and submitted to Chambers.

Orders

  • ['Confidentiality orders be made in terms of proposed amended draft orders to be submitted by the solicitors for the applicants to the Chambers of the Honourable Justice Greenwood for considering and initialling should those orders be in the form as discussed in the course of the hearing of the application on 6 June...