Nicols, in the matter of Anatax Pty Ltd (in liquidation) [2019] FCA 1528

Nicols, in the matter of Anatax Pty Ltd (in liquidation) [2019] FCA 1528

There is no evidence of lack of good faith, error of law or principle, or imprudence in the liquidator’s proposal; accordingly, it is proper and appropriate to grant approval under s 477(2B) of the Corporations Act 2001 (Cth).

Jurisdiction
Australia
Judgment Date
16 September 2019
Procedural Posture
Corporations – Application by Liquidator for Approval of Assignment of Causes of Action / Application for Court Approval Under S 477(2 B) of the Corporations Act 2001 (cth)
Outcome
Application granted – approval for Deed of Assignment and Deed of Amendment under s 477(2B) of the Corporations Act 2001 (Cth)
Legal Topics
['liquidator’s Power to Assign Causes of Action' 'court Approval for Assignment of Company Property' 'creditors in Liquidation']
['corporations Law' 'insolvency'] ['liquidator’s Power to Assign Causes of Action' 'court Approval for Assignment of Company Property' 'creditors in Liquidation']

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Procedural Posture

Corporations – Application by Liquidator for Approval of Assignment of Causes of Action / Application for Court Approval Under S 477(2 B) of the Corporations Act 2001 (cth)

Legal Issues

  1. 1 ['Whether the Court should approve the entry by the plaintiffs into the Deed of Assignment and Deed of Amendment under s 477(2B) of the Corporations Act 2001 (Cth)']

Ratio Decidendi

There is no evidence of lack of good faith, error of law or principle, or imprudence in the liquidator’s proposal; accordingly, it is proper and appropriate to grant approval under s 477(2B) of the Corporations Act 2001 (Cth).

Court Disposition

Application granted – approval for Deed of Assignment and Deed of Amendment under s 477(2B) of the Corporations Act 2001 (Cth)

Orders

  • ['Pursuant to s 477(2B) of the Corporations Act 2001 (Cth), the entry by the plaintiffs into the Deed of Assignment dated 18 April 2019 and the Deed of Amendment signed 31 July 2019 is approved.' 'The costs of this proceeding be costs in the liquidation of the Company.']