In the matter of Martha Cove Marina Pty Ltd (in liquidation) [2015] NSWSC 2049
Leave should be granted to the liquidator to enter into the litigation funding deed and engage solicitors, as the pursuit of proposed proceedings offers distinct benefits for creditors over an expeditious winding up and there is no opposition from creditors.
- Jurisdiction
- Australia
- Judgment Date
- 20 April 2015
- Procedural Posture
- Corporations Application / Application for Leave Under S 477(2 B) Corporations Act 2001
- Outcome
- Leave granted
- Legal Topics
- ["liquidator's Powers" 'litigation Funding' 'winding Up' 'application for Leave to Enter Litigation Funding Agreement']
Case Brief
Summary, issues, holding and outcome
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Procedural Posture
Corporations Application / Application for Leave Under S 477(2 B) Corporations Act 2001
Legal Issues
- 1 ['Whether leave should be granted to the liquidator under s 477(2B) of the Corporations Act 2001 to enter into a litigation funding agreement and engage solicitors']
Ratio Decidendi
Leave should be granted to the liquidator to enter into the litigation funding deed and engage solicitors, as the pursuit of proposed proceedings offers distinct benefits for creditors over an expeditious winding up and there is no opposition from creditors.
Court Disposition
Leave granted
Orders
- ['Pursuant to Corporations Act, s 477(2B), the first plaintiff be granted leave to enter into the litigation funding deed and to engage Squire Patton Boggs, solicitors, for the plaintiff.' "The affidavit of Andrew Hugh Jemmer Wily sworn 7 April 2015 be placed in a sealed envelope on the Court file marked 'not to be...
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