Rocke (as liquidator of ACN 080 794 636 Pty Ltd), In the matter of ss 502 and 506(4) of the Corporations Act [2007] FCA 1687

Rocke (as liquidator of ACN 080 794 636 Pty Ltd), In the matter of ss 502 and 506(4) of the Corporations Act [2007] FCA 1687

Orders for replacement of liquidators, deed administrators, and trustees are appropriate to ensure administrative continuity after resignation, given no prejudice to creditors, and cost-saving compared to holding creditors' meetings. Costs of applications are not to be borne by affected companies or trusts.

Parties
Liquidator (resigning), Deed Administrator, Trustee: Clifford Stuart Rocke; Liquidator (resigning), Trustee: Jeffery Laurence Herbert; Liquidator (resigning), Deed Administrator, Trustee: Norman Mel Ashton; Liquidator (resigning): Ian Menzies Carson; New Liquidator, New Deed Administrator, New Trustee: Andrew John Birch; Existing Liquidator, Existing Deed Administrator, Existing Trustee: Simon Andrew Read; Solicitor for Plaintiffs: Lavan Legal
Jurisdiction
Australia
Judgment Date
31 October 2007
Procedural Posture
Applications for Replacement of Liquidators, Deed Administrators, and Trustees / Reasons for Orders Following Hearings on 31 October 2007 and 6 November 2007
Outcome
Orders made appointing replacements for liquidators, deed administrators, and trustees as detailed; costs of applications not recoverable from assets of affected companies or trusts; liberty to creditors to apply to vary orders.
Legal Topics
External Administration, Replacement of Liquidators, Deed Administrators, Creditors' Trusts, Corporate Restructuring
Corporations Insolvency Trusts External Administration Replacement of Liquidators Deed Administrators Creditors' Trusts Corporate Restructuring

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Parties

Clifford Stuart Rocke

Liquidator (resigning), Deed Administrator, Trustee

Jeffery Laurence Herbert

Liquidator (resigning), Trustee

Norman Mel Ashton

Liquidator (resigning), Deed Administrator, Trustee

Ian Menzies Carson

Liquidator (resigning)

Andrew John Birch

New Liquidator, New Deed Administrator, New Trustee

Simon Andrew Read

Existing Liquidator, Existing Deed Administrator, Existing Trustee

Lavan Legal

Solicitor for Plaintiffs

Procedural Posture

Applications for Replacement of Liquidators, Deed Administrators, and Trustees / Reasons for Orders Following Hearings on 31 October 2007 and 6 November 2007

Legal Issues

  1. 1 Whether Court should appoint replacement liquidators, deed administrators and trustees following resignations
  2. 2 Whether costs of the applications should be borne by companies or trusts
  3. 3 Jurisdiction to appoint trustees under Trustees Act 1962 (WA) in federal court context

Ratio Decidendi

Orders for replacement of liquidators, deed administrators, and trustees are appropriate to ensure administrative continuity after resignation, given no prejudice to creditors, and cost-saving compared to holding creditors' meetings. Costs of applications are not to be borne by affected companies or trusts.

Court Disposition

Orders made appointing replacements for liquidators, deed administrators, and trustees as detailed; costs of applications not recoverable from assets of affected companies or trusts; liberty to creditors to apply to vary orders.

Orders

  • Andrew John Birch and Simon Andrew Read appointed as liquidators of ACN 080 794 636 Pty Ltd (In liquidation)
  • Andrew John Birch appointed as liquidator of Keyros Pty Ltd (In liquidation)