Cope v Home [2002] NSWSC 777

The statutory moratorium under s.440D Corporations Act 2001 (Cth) precludes enforcement of contractual rights by legal proceedings against a company in administration absent leave; balance of convenience favours administrators' freedom from injunction; orders restraining sale are not to be continued.

Jurisdiction: Australia
Judgment Date: 27 August 2002
Procedural Posture: Equity Interlocutory Injunction / Application for Continuation of Interlocutory Orders
Outcome: Interlocutory orders not continued; injunction relief refused
Legal Topics: ['interlocutory Injunction' 'voluntary Administration' 'moratorium on Legal Proceedings' 'assertion of Property Rights']

['equity' 'corporations'] ['interlocutory Injunction' 'voluntary Administration' 'moratorium on Legal Proceedings' 'assertion of Property Rights']

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Procedural Posture

Equity Interlocutory Injunction / Application for Continuation of Interlocutory Orders

Legal Issues

1 ["Whether sale of STACC's business would breach contractual obligations to plaintiffs under agreement of 22 November 2001" 'Whether plaintiffs are entitled to interlocutory injunction restraining administrators from sale' 'Effect of statutory moratorium under s.440D Corporations Act 2001 (Cth) on enforcement of contractual obligations']

Ratio Decidendi

Court Disposition

Interlocutory orders not continued; injunction relief refused

Orders

['Orders 1 and 2 made on 21 August and continued on 23 August until 5pm will not be further continued']