In the matter of bCode Pty Limited [2013] NSWSC 384

In the matter of bCode Pty Limited [2013] NSWSC 384

There was no seriously arguable case that the liquidators acted unreasonably or in bad faith in rejecting the deed of company arrangement or failing to secure assets; the application for injunction must fail.

Jurisdiction
Australia
Judgment Date
26 March 2013
Procedural Posture
Interlocutory Application / Interlocutory Injunction Hearing
Outcome
Injunction application dismissed
Legal Topics
['external Administration' 'insolvency' 'winding Up' 'injunction' "liquidator's Duties"]
['corporations'] ['external Administration' 'insolvency' 'winding Up' 'injunction' "liquidator's Duties"]

Case Brief

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Procedural Posture

Interlocutory Application / Interlocutory Injunction Hearing

Legal Issues

  1. 1 ["Whether there is a seriously arguable case for final relief reversing the liquidator's decision to reject a proposal for a deed of company arrangement" 'Whether there is a seriously arguable case that the liquidator acted in bad faith in the conduct of the sale']

Ratio Decidendi

There was no seriously arguable case that the liquidators acted unreasonably or in bad faith in rejecting the deed of company arrangement or failing to secure assets; the application for injunction must fail.

Court Disposition

Injunction application dismissed

Orders

  • ['Decline to make orders sought in paragraph 4 of interlocutory process filed 15 March 2013.' 'Balance of interlocutory processes stood over to 15 April 2013.' "Plaintiff to pay defendants' costs of interlocutory process to date."]