George Georges v Gregg Thomson [2008] NSWSC 248

George Georges v Gregg Thomson [2008] NSWSC 248

Liquidators were justified in selling the licensed land and in seeking to be appointed trustees for sale of the co-owned land, as proposed dealings were for the benefit of creditors and co-owners, and there was no substantive objection; usual principles under s 66G Conveyancing Act and s 479(3) Corporations Act apply.

Jurisdiction
Australia
Judgment Date
06 March 2008
Procedural Posture
Corporations/equity / Application for Directions and Trustee Appointment
Outcome
Orders granted in terms of originating process; liquidators justified in selling licensed land and appointed trustees for sale of co-owned land.
Legal Topics
['liquidation' 'sale of Co Owned Land' 'trustee for Sale' 'directions to Liquidator']
['corporations' 'equity' 'property'] ['liquidation' 'sale of Co Owned Land' 'trustee for Sale' 'directions to Liquidator']

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Procedural Posture

Corporations/equity / Application for Directions and Trustee Appointment

Legal Issues

  1. 1 ['Whether liquidators are justified in selling licensed land under s 479(3) of the Corporations Act 2001 (Cth)' 'Whether trustees for sale should be appointed for co-owned land under s 66G of the Conveyancing Act 1919 (NSW)']

Ratio Decidendi

Liquidators were justified in selling the licensed land and in seeking to be appointed trustees for sale of the co-owned land, as proposed dealings were for the benefit of creditors and co-owners, and there was no substantive objection; usual principles under s 66G Conveyancing Act and s 479(3) Corporations Act apply.

Court Disposition

Orders granted in terms of originating process; liquidators justified in selling licensed land and appointed trustees for sale of co-owned land.

Orders

  • ['Direction that liquidators are justified in selling licensed land pursuant to s 479(3) Corporations Act 2001 (Cth)' 'Order that net proceeds be held in a separate interest bearing account pending further order' 'Appointment of liquidators as trustees for sale of co-owned land pursuant to s 66G Conveyancing Act...