Parkes Leagues Club Co-op Limited (In Liq) [2004] NSWSC 16

Parkes Leagues Club Co-op Limited (In Liq) [2004] NSWSC 16

Leave was granted because the only relevant question was whether Mr Wykes was an appropriate person to be appointed administrator, and there was no suggestion of lack of independence or any other reason why he should not appoint himself. The requested s 447A modifications were also appropriate because repeating steps already taken would be inexpedient and wasteful, and an earlier s 439A meeting was desirable.

Jurisdiction
Australia
Judgment Date
23 January 2004
Procedural Posture
Application Under S 436 B(2) of the Corporations Act 2001 (cth) for Leave for a Liquidator to Appoint Himself as Administrator, With Related Application Under S 447 a / First Instance Application in the Equity Division
Outcome
Leave granted to liquidator to appoint himself as voluntary administrator.
Legal Topics
['voluntary Administration' 'liquidator Appointing Himself as Administrator' 'part 5.3 a Modifications' 'committee of Creditors' 'meeting of Creditors']
['corporations' 'insolvency' 'co Operatives'] ['voluntary Administration' 'liquidator Appointing Himself as Administrator' 'part 5.3 a Modifications' 'committee of Creditors' 'meeting of Creditors']

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Procedural Posture

Application Under S 436 B(2) of the Corporations Act 2001 (cth) for Leave for a Liquidator to Appoint Himself as Administrator, With Related Application Under S 447 a / First Instance Application in the Equity Division

Legal Issues

  1. 1 ['Whether leave should be granted under s 436B(2) of the Corporations Act 2001 (Cth) for the liquidator to appoint himself as administrator of the co-operative' 'Whether orders should be made under s 447A of the Corporations Act 2001 (Cth) dispensing with or modifying requirements for meetings, committee membership, proofs of debt and timing of the s 439A meeting']

Ratio Decidendi

Leave was granted because the only relevant question was whether Mr Wykes was an appropriate person to be appointed administrator, and there was no suggestion of lack of independence or any other reason why he should not appoint himself. The requested s 447A modifications were also appropriate because repeating steps already taken would be inexpedient and wasteful, and an earlier s 439A meeting was desirable.

Court Disposition

Leave granted to liquidator to appoint himself as voluntary administrator.

Orders

  • ['Leave granted under s 436B(2) of the Corporations Act 2001 (Cth) for the plaintiff to appoint himself as administrator of the co-operative.' 'Under s 447A of the Corporations Act 2001 (Cth), the requirement under s 436E for an initial meeting of creditors is dispensed with.' 'The committee of inspection in the...