Re Intag International Limited & The Corporations Law [1999] NSWSC 571

Re Intag International Limited & The Corporations Law [1999] NSWSC 571

The liquidator has satisfied the court that the company is insolvent, can potentially be salvaged, the proposed scheme is prima facie beneficial to creditors, and is not contrary to the public interest at this stage; leave is granted for the liquidator to act as administrator under s 436B(2).

Parties
Applicant: Anthony Milton Sims
Jurisdiction
Australia
Judgment Date
02 June 1999
Procedural Posture
Application Under Corporations Law S 436 B(2) / Hearing and Orders on Application
Outcome
Order made as sought in the motion; costs to be costs in the winding up. Subsequent consideration to be undertaken by the judge hearing any application to stay the winding up.
Legal Topics
Administration, Appointment of Administrator, Liquidator as Administrator
Corporations Administration Appointment of Administrator Liquidator as Administrator

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Parties

Anthony Milton Sims

Applicant

Procedural Posture

Application Under Corporations Law S 436 B(2) / Hearing and Orders on Application

Legal Issues

  1. 1 Whether leave should be granted under s 436B(2) of the Corporations Law for the liquidator to be appointed as administrator
  2. 2 Principles relevant to appointing a liquidator as administrator and the public interest

Ratio Decidendi

The liquidator has satisfied the court that the company is insolvent, can potentially be salvaged, the proposed scheme is prima facie beneficial to creditors, and is not contrary to the public interest at this stage; leave is granted for the liquidator to act as administrator under s 436B(2).

Court Disposition

Order made as sought in the motion; costs to be costs in the winding up. Subsequent consideration to be undertaken by the judge hearing any application to stay the winding up.

Orders

  • Order 2 of the notice of motion of 2 June 1999 granted: liquidator given leave to act as administrator under s 436B(2) of the Corporations Law.
  • Costs of the application are to be costs in the winding up.