McGrath & Anor re HIH Insurance Ltd & Ors [2005] NSWSC 787

McGrath & Anor re HIH Insurance Ltd & Ors [2005] NSWSC 787

Approval under s.477(2B) and related relief were declined at this stage; applications stood over for directions for further evidence to be adduced.

Jurisdiction
Australia
Judgment Date
04 August 2005
Procedural Posture
Corporations List Proceeding; Application by Liquidators / Interlocutory Application for Approval Under Corporations Act S.477(2 B); Applications Stood Over for Further Evidence
Outcome
Applications for approval and related relief under s.477(2B) of the Corporations Act 2001 (Cth) declined at this point; proceedings stood over for further directions.
Legal Topics
['winding Up of Companies' 'liquidators’ Powers' 'approval of Contracts Exceeding Three Months']
['corporations Law' 'equity'] ['winding Up of Companies' 'liquidators’ Powers' 'approval of Contracts Exceeding Three Months']

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Procedural Posture

Corporations List Proceeding; Application by Liquidators / Interlocutory Application for Approval Under Corporations Act S.477(2 B); Applications Stood Over for Further Evidence

Legal Issues

  1. 1 ['Whether the court should approve, under s.477(2B) of the Corporations Act 2001 (Cth), entry by the applicants (liquidators) into contracts not to be completed within three months']

Ratio Decidendi

Approval under s.477(2B) and related relief were declined at this stage; applications stood over for directions for further evidence to be adduced.

Court Disposition

Applications for approval and related relief under s.477(2B) of the Corporations Act 2001 (Cth) declined at this point; proceedings stood over for further directions.

Orders

  • ['Interlocutory process in each proceeding stood over for directions as to further evidence.' 'Reasons for judgment to remain sealed in the court file and not be published except by leave of a judge with prior notice to Blake Dawson Waldron.']