Intergen Energy Holdings (Australia) Pty Ltd, in the matter of Intergen Energy Holdings (Australia) Pty Ltd [2017] FCA 445

Intergen Energy Holdings (Australia) Pty Ltd, in the matter of Intergen Energy Holdings (Australia) Pty Ltd [2017] FCA 445

Based on evidence the companies are solvent and administrators' remuneration is reasonable, the administration should end pursuant to s 447A and the administrators' remuneration fixed and approved pursuant to s 449E.

Jurisdiction
Australia
Judgment Date
30 March 2017
Procedural Posture
Application Under Corporations Act Provisions / Post Hearing, Reasons and Orders for Application to Terminate Administration and Approve Remuneration
Outcome
Application granted
Legal Topics
['external Administration' 'termination of Administration' 'solvency' "administrators' Remuneration" "creditors' Position"]
['corporations'] ['external Administration' 'termination of Administration' 'solvency' "administrators' Remuneration" "creditors' Position"]

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Procedural Posture

Application Under Corporations Act Provisions / Post Hearing, Reasons and Orders for Application to Terminate Administration and Approve Remuneration

Legal Issues

  1. 1 ['Whether administration of company plaintiffs should be terminated on the basis of solvency under s 447A of the Corporations Act 2001 (Cth)' "Whether administrator plaintiffs' remuneration should be approved under s 449E of the Corporations Act 2001 (Cth)"]

Ratio Decidendi

Based on evidence the companies are solvent and administrators' remuneration is reasonable, the administration should end pursuant to s 447A and the administrators' remuneration fixed and approved pursuant to s 449E.

Court Disposition

Application granted

Orders

  • ['Administration of company plaintiffs ended pursuant to s 447A(1) at time of order.' "Administrator plaintiffs' remuneration fixed and approved in sum of $713,554.00 plus GST." 'Procedural requirements under Federal Court (Corporations) Rules 2000 (Cth) waived in relation to remuneration approval.' 'Confidential...