McGrath & Ors re HIH Insurance Ltd (In Liq) [2004] NSWSC 143

McGrath & Ors re HIH Insurance Ltd (In Liq) [2004] NSWSC 143

The eight month extension was granted because Hannover Ruckversicherungs AG, the affected person, had been given an adequate opportunity to be heard and expressly consented, and Mr McGrath's affidavit gave a comprehensive explanation showing it had been impracticable for the liquidators to act on the potential claims within the three year period.

Jurisdiction
Australia
Judgment Date
05 March 2004
Procedural Posture
Application Under S.588 Ff(3)(b) of the Corporations Act 2001 (cth) Extending the Period Within Which an Application Under S.588 Ff(1) May Be Made / Ex Parte Application With Consent of the Affected Person
Outcome
Limitation period extended
Legal Topics
['voidable Transactions' 'extension of Limitation Period' 'procedural Fairness' 'non Party Heard Without Becoming a Party']
['corporations' 'insolvency'] ['voidable Transactions' 'extension of Limitation Period' 'procedural Fairness' 'non Party Heard Without Becoming a Party']

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Procedural Posture

Application Under S.588 Ff(3)(b) of the Corporations Act 2001 (cth) Extending the Period Within Which an Application Under S.588 Ff(1) May Be Made / Ex Parte Application With Consent of the Affected Person

Legal Issues

  1. 1 ['Whether the three year period within which an application under s.588FF(1) may be made against Hannover Ruckversicherungs AG should be extended under s.588FF(3)(b).' 'Whether the ex parte application adequately dealt with the procedural fairness requirement that a person likely to be adversely affected by an extension order have an opportunity to make submissions.']

Ratio Decidendi

The eight month extension was granted because Hannover Ruckversicherungs AG, the affected person, had been given an adequate opportunity to be heard and expressly consented, and Mr McGrath's affidavit gave a comprehensive explanation showing it had been impracticable for the liquidators to act on the potential claims within the three year period.

Court Disposition

Limitation period extended

Orders

  • ['Leave is given to the plaintiffs to file in court the originating process and the affidavit of Anthony Gregory McGrath sworn on 5 March 2004.' 'An order is made extending the period under s.588FF(3)(b) of the Corporations Act 2001 (Cth) for eight months from 5 March 2004 in respect of possible proceedings against...