ASIC v Orehek & Ors [2003] NSWSC 1067

ASIC v Orehek & Ors [2003] NSWSC 1067

Mr Green, who is already the liquidator or administrator of other related companies, is to be appointed liquidator of the subject companies notwithstanding potential conflicts, provided he undertakes to resign or seek advice from the court if an actual conflict arises. Grace Abounds is entitled to costs as a petitioning creditor, and appropriate winding up orders are to be made in both Supreme Court and transferred Federal Court proceedings.

Jurisdiction
Australia
Judgment Date
14 November 2003
Procedural Posture
Corporations Winding Up / Judgment on Interlocutory Orders and Final Orders for Winding Up
Outcome
Orders made for winding up of Marriott Properties Pty Ltd and Platinum Finance Group Pty Ltd; Martin Green appointed as liquidator upon undertaking; costs of Grace Abounds to be paid as petitioning creditor from assets; orders made in both Supreme Court and transferred Federal Court proceedings.
Legal Topics
['winding Up' 'appointment of Liquidator' 'intermingling of Company Affairs' 'costs of Creditors']
['corporations Law' 'insolvency'] ['winding Up' 'appointment of Liquidator' 'intermingling of Company Affairs' 'costs of Creditors']

Case Brief

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Procedural Posture

Corporations Winding Up / Judgment on Interlocutory Orders and Final Orders for Winding Up

Legal Issues

  1. 1 ['Whether liquidator of companies already in liquidation or administration should also be appointed liquidator of subject companies with intermingled affairs' 'Whether creditor Grace Abounds Pty Limited is entitled to its costs as petitioning creditor' 'Whether orders should be made in both Supreme Court and transferred Federal Court proceedings']

Ratio Decidendi

Mr Green, who is already the liquidator or administrator of other related companies, is to be appointed liquidator of the subject companies notwithstanding potential conflicts, provided he undertakes to resign or seek advice from the court if an actual conflict arises. Grace Abounds is entitled to costs as a petitioning creditor, and appropriate winding up orders are to be made in both Supreme Court and transferred Federal Court proceedings.

Court Disposition

Orders made for winding up of Marriott Properties Pty Ltd and Platinum Finance Group Pty Ltd; Martin Green appointed as liquidator upon undertaking; costs of Grace Abounds to be paid as petitioning creditor from assets; orders made in both Supreme Court and transferred Federal Court proceedings.

Orders

  • ['Martin Green appointed as liquidator of Marriott Properties Pty Ltd and Platinum Finance Group Pty Ltd upon undertaking to resign or seek court advice if conflict arises.' 'Winding up orders made in both Supreme Court and transferred Federal Court proceedings.' "Costs of Grace Abounds Pty Limited (in liquidation)...