Dean-Willcocks re Yeshiva Properties No 1 & Ors [2003] NSWSC 1252

Dean-Willcocks re Yeshiva Properties No 1 & Ors [2003] NSWSC 1252

Leave under ss.436B(2) and 448C(1) should be granted as there existed no real or potential conflict of interest preventing Mr Dean-Willcocks and Mr Malanos from acting as joint administrators, and their continued involvement was desirable to bring about the best result for creditors and effective administration. Orders under s.447A were also appropriate given the extensive information already provided to creditors and the previous meeting held.

Jurisdiction
Australia
Judgment Date
18 December 2003
Procedural Posture
Corporations Voluntary Administration / Provisional Liquidation / Application for Leave and Orders Relating to Administration Under Corporations Act
Outcome
Leave granted under ss.436B(2) and 448C(1); orders made under s.447A and for costs out of assets.
Legal Topics
['voluntary Administration' 'appointment of Administrators' 'powers of Provisional Liquidator' 'conflict of Interest']
['corporations Law' 'insolvency'] ['voluntary Administration' 'appointment of Administrators' 'powers of Provisional Liquidator' 'conflict of Interest']

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Procedural Posture

Corporations Voluntary Administration / Provisional Liquidation / Application for Leave and Orders Relating to Administration Under Corporations Act

Legal Issues

  1. 1 ['Whether leave should be granted for the provisional liquidator and partner to be appointed as joint administrators under ss.436B(2) and 448C(1) of the Corporations Act' 'Whether to make orders under s.447A dispensing with certain steps in the second administration']

Ratio Decidendi

Leave under ss.436B(2) and 448C(1) should be granted as there existed no real or potential conflict of interest preventing Mr Dean-Willcocks and Mr Malanos from acting as joint administrators, and their continued involvement was desirable to bring about the best result for creditors and effective administration. Orders under s.447A were also appropriate given the extensive information already provided to creditors and the previous meeting held.

Court Disposition

Leave granted under ss.436B(2) and 448C(1); orders made under s.447A and for costs out of assets.

Orders

  • ['Leave under s.436B(2) of the Corporations Act for Mr Dean-Willcocks to appoint himself as administrator and of any deed of company arrangement of the relevant plaintiffs.' 'Leave under s.448C(1) of the Corporations Act for Nicholas Malanos to seek, consent to, and act as administrator and of any deed of company...