McGrath & Anor in their capacity as liquidators of HIH Insurance Ltd (in liq) [2005] NSWSC 506

McGrath & Anor in their capacity as liquidators of HIH Insurance Ltd (in liq) [2005] NSWSC 506

The court should, on the forthcoming resignation of a joint liquidator in a court-ordered winding up, order that the ensuing vacancy will be filled by the appointment of the proposed replacement effective upon the resignation, pursuant to s.473(7) of the Corporations Act 2001 (Cth), and declare under s.473(8) that acts required or authorised may be done by either or both liquidators.

Jurisdiction
Australia
Judgment Date
27 May 2005
Procedural Posture
Corporations Winding Up / Application for Appointment of Replacement Liquidator
Outcome
Order for appointment of replacement liquidator upon resignation of current joint liquidator.
Legal Topics
['liquidator Resignation' 'replacement of Liquidator' 'court Appointed Liquidator' 'corporate Insolvency']
['corporations Law' 'insolvency'] ['liquidator Resignation' 'replacement of Liquidator' 'court Appointed Liquidator' 'corporate Insolvency']

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Procedural Posture

Corporations Winding Up / Application for Appointment of Replacement Liquidator

Legal Issues

  1. 1 ['Procedure for appointment of replacement liquidator following resignation of joint liquidator in court-ordered winding up']

Ratio Decidendi

The court should, on the forthcoming resignation of a joint liquidator in a court-ordered winding up, order that the ensuing vacancy will be filled by the appointment of the proposed replacement effective upon the resignation, pursuant to s.473(7) of the Corporations Act 2001 (Cth), and declare under s.473(8) that acts required or authorised may be done by either or both liquidators.

Court Disposition

Order for appointment of replacement liquidator upon resignation of current joint liquidator.

Orders

  • ['Order to appoint Christopher John Honey as joint liquidator with Anthony Gregory McGrath for HIH Insurance Ltd effective 1 July 2005 upon resignation of Alexander Robert Mackay Macintosh.' 'Declaration pursuant to s.473(8) of the Corporations Act 2001 (Cth) that acts required or authorised may be done by either or...