Delsana Holdings Pty Ltd, in the matter of Delsana Holdings Pty Ltd (in liq) [2013] FCA 500

Delsana Holdings Pty Ltd, in the matter of Delsana Holdings Pty Ltd (in liq) [2013] FCA 500

It is in the best interests of the creditors and consistent with the public interest for the liquidator to be appointed administrator and for the meeting requirement to be dispensed with, given the support of creditors and the likelihood that all third party creditors can be paid in full and the company returned to solvency.

Jurisdiction
Australia
Judgment Date
23 April 2013
Procedural Posture
Corporate Insolvency / Application for Leave and Orders Under Voluntary Administration
Outcome
Orders granted as sought by the applicant.
Legal Topics
['appointment of Administrator' 'dispensation of Creditors Meeting' 'deed of Company Arrangement']
['corporate Law' 'insolvency Law'] ['appointment of Administrator' 'dispensation of Creditors Meeting' 'deed of Company Arrangement']

Case Brief

Summary, issues, holding and outcome

More case intelligence is available

Unlock the full research layer for this judgment.

Full judgment text Downloadable case file Legal principles 1 Authorities cited 2 Party arguments 1 Amounts and remedies 1
Sign in to unlock

Procedural Posture

Corporate Insolvency / Application for Leave and Orders Under Voluntary Administration

Legal Issues

  1. 1 ['Whether the liquidator should be granted leave to appoint himself as administrator of the company' 'Whether the requirement to convene the first meeting of creditors should be dispensed with']

Ratio Decidendi

It is in the best interests of the creditors and consistent with the public interest for the liquidator to be appointed administrator and for the meeting requirement to be dispensed with, given the support of creditors and the likelihood that all third party creditors can be paid in full and the company returned to solvency.

Court Disposition

Orders granted as sought by the applicant.

Orders

  • ['The plaintiff has leave to appoint himself as administrator of Delsana Holdings Pty Ltd (in liquidation) pursuant to section 436B(2) of the Corporations Act 2001 (Cth).' 'The requirement to convene the first meeting of creditors imposed by section 436E of the Corporations Act 2001 (Cth) does not apply pursuant to...