Walker, in the matter of ZYX Learning Centres Limited (Formerly ABC Learning Centres Limited) (In Liquidation) (Receivers and Managers Appointed) [2011] FCA 1284

Walker, in the matter of ZYX Learning Centres Limited (Formerly ABC Learning Centres Limited) (In Liquidation) (Receivers and Managers Appointed) [2011] FCA 1284

Liquidators are justified and approved, pursuant to relevant sections of the Corporations Act, in entering, performing, and causing the company to perform the agreement with respect to the Morgan Stanley litigation. Court further orders the confidentiality of certain exhibits and that costs be treated as expenses in the winding up.

Jurisdiction
Australia
Judgment Date
16 September 2011
Procedural Posture
Application for Directions / Final Determination
Outcome
application granted
Legal Topics
["liquidators' Powers" 'approval of Agreements' 'insurance in Liquidation']
['corporate Insolvency'] ["liquidators' Powers" 'approval of Agreements' 'insurance in Liquidation']

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

Application for Directions / Final Determination

Legal Issues

  1. 1 ["Liquidators' justification to enter proposed agreement" 'Approval of agreement under s 477 (2B) Corporations Act' 'Confidentiality of exhibits in liquidation proceeding']

Ratio Decidendi

Liquidators are justified and approved, pursuant to relevant sections of the Corporations Act, in entering, performing, and causing the company to perform the agreement with respect to the Morgan Stanley litigation. Court further orders the confidentiality of certain exhibits and that costs be treated as expenses in the winding up.

Court Disposition

application granted

Orders

  • ['Liquidators are justified in entering and performing agreement substantially in the form of Confidential Exhibit GMM3.' 'Liquidators are approved to make agreement substantially in the form of Confidential Exhibit GMM3 under s 477(2B) Corporations Act.' 'Confidential Exhibits GMM2, GMM3 and GMM4 to be kept sealed...