In the matter of FGM Print Pty Limited [2018] NSWSC 1478

In the matter of FGM Print Pty Limited [2018] NSWSC 1478

Appointing a liquidator within the same firm as the resigning liquidator is appropriate and efficient in circumstances where it ensures continuity, minimises costs, and avoids unnecessary creditors' meetings, particularly where disclosure of relevant contractual matters has been made and no prejudice to creditors is shown.

Jurisdiction
Australia
Judgment Date
14 June 2018
Procedural Posture
Corporations Application / Application for Appointment of Replacement Liquidator
Outcome
Order made appointing First Plaintiff as liquidator of the companies the subject of the application.
Legal Topics
['winding Up' 'appointment of Liquidator' 'replacement of Liquidator' 'leave to Appoint Same Firm as Liquidator']
['corporations Law' 'insolvency'] ['winding Up' 'appointment of Liquidator' 'replacement of Liquidator' 'leave to Appoint Same Firm as Liquidator']

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Procedural Posture

Corporations Application / Application for Appointment of Replacement Liquidator

Legal Issues

  1. 1 ['Whether it is appropriate to appoint a liquidator from the same firm as the resigning liquidator' 'Whether leave under s 532(2) of the Corporations Act 2001 (Cth) is necessary for such appointment' 'Whether an order for payment of costs from company assets should be made']

Ratio Decidendi

Appointing a liquidator within the same firm as the resigning liquidator is appropriate and efficient in circumstances where it ensures continuity, minimises costs, and avoids unnecessary creditors' meetings, particularly where disclosure of relevant contractual matters has been made and no prejudice to creditors is shown.

Court Disposition

Order made appointing First Plaintiff as liquidator of the companies the subject of the application.

Orders

  • ['Amanda Young is appointed as liquidator of FGM Print Pty Ltd upon resignation of Henry Peter McKenna, following procedure under r 7.1 Supreme Court (Corporations) Rules 1999 (NSW) and s 473A Corporations Act 2001 (Cth).' "Amanda Young is appointed liquidator of three other companies in creditors' voluntary...