Re Ivory Cape Pty Ltd (in liquidation) Informed Sources Finance Pty Ltd v Cole, Robert Molesworth Hobill & Anor [1996] FCA 593

Re Ivory Cape Pty Ltd (in liquidation) Informed Sources Finance Pty Ltd v Cole, Robert Molesworth Hobill & Anor [1996] FCA 593

There was no evidence of any improper conduct by Cole as liquidator and no basis to support the application for his removal. The process provided by the Corporations Law is adequate for any concerns regarding impartiality in proof of debt assessment.

Jurisdiction
Australia
Judgment Date
17 July 1996
Procedural Posture
Application / Judgment After Hearing on Application to Remove Liquidator
Outcome
Application dismissed with costs
Legal Topics
['liquidator Removal' 'impartiality of Liquidator' 'deed of Company Arrangement']
['corporations Law' 'insolvency'] ['liquidator Removal' 'impartiality of Liquidator' 'deed of Company Arrangement']

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Procedural Posture

Application / Judgment After Hearing on Application to Remove Liquidator

Legal Issues

  1. 1 ['Whether the liquidator should be removed under s 503 of the Corporations Law on grounds of lack of impartiality or confidence']

Ratio Decidendi

There was no evidence of any improper conduct by Cole as liquidator and no basis to support the application for his removal. The process provided by the Corporations Law is adequate for any concerns regarding impartiality in proof of debt assessment.

Court Disposition

Application dismissed with costs

Orders

  • ['The application under s 503 of the Corporations Law is dismissed.' 'The applicant is to pay the costs of the application.']