Re Botar-Tatham Pty Ltd [2001] NSWSC 613

Re Botar-Tatham Pty Ltd [2001] NSWSC 613

The receiver may only be discharged if appropriate arrangements for deregistration (or, failing that, liquidation) of the insolvent company are made; the court will permit enforcement of the receiver's equitable lien by appropriation of remaining company funds, provided deregistration or winding up occurs to prevent an insolvent company continuing in the market.

Jurisdiction
Australia
Judgment Date
13 July 2001
Procedural Posture
Application in Equity (receiver Discharge) / Judgment on Application for Discharge of Receiver and Appropriation of Company Funds
Outcome
Receiver to be discharged provided that appropriate arrangements are made to deregister the company.
Legal Topics
['receiver Discharge' 'insolvent Company' 'company Deregistration' 'winding Up by Court' 'equitable Lien']
['corporations Law' 'equity'] ['receiver Discharge' 'insolvent Company' 'company Deregistration' 'winding Up by Court' 'equitable Lien']

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Procedural Posture

Application in Equity (receiver Discharge) / Judgment on Application for Discharge of Receiver and Appropriation of Company Funds

Legal Issues

  1. 1 ['Whether the receiver should be discharged from his duties as receiver and manager of Botar-Tatham Pty Ltd' 'Whether the court should permit the receiver to appropriate company funds for outstanding remuneration' "Whether the insolvent company should be deregistered or wound up as a condition of the receiver's discharge"]

Ratio Decidendi

The receiver may only be discharged if appropriate arrangements for deregistration (or, failing that, liquidation) of the insolvent company are made; the court will permit enforcement of the receiver's equitable lien by appropriation of remaining company funds, provided deregistration or winding up occurs to prevent an insolvent company continuing in the market.

Court Disposition

Receiver to be discharged provided that appropriate arrangements are made to deregister the company.

Orders

  • ['Stand matter over; if ASIC willing to deregister, order for discharge and appropriation of funds; if not, receiver to move for liquidation, and discharge to follow concurrently.']