In the matter of Nielsen & Moller Autoglass (NSW) Pty Limited (in liquidation); Maggie Yeung Lo -v- Nielsen & Moller Autoglass (NSW) Pty Limited (in liq) [2008] NSWSC 1068

In the matter of Nielsen & Moller Autoglass (NSW) Pty Limited (in liquidation); Maggie Yeung Lo -v- Nielsen & Moller Autoglass (NSW) Pty Limited (in liq) [2008] NSWSC 1068

It is appropriate to remove Mr Wykes and appoint Messrs Lord and Crowe-Maxwell as liquidators, given Mr Wykes is unfunded, creditors do not support his funding, and only Ms Lo is prepared to make resources available; in these circumstances, ascertaining creditor wishes is unnecessary due to the absence of available property.

Jurisdiction
Australia
Judgment Date
15 December 2008
Procedural Posture
Corporations Winding Up / Interlocutory Application to Vary Liquidator Appointment Orders
Outcome
Liquidator removed; special purpose liquidators appointed as joint and several liquidators.
Legal Topics
['liquidator Removal' 'special Purpose Liquidators' 'funding of Liquidation' 'creditor Wishes']
['corporations Law'] ['liquidator Removal' 'special Purpose Liquidators' 'funding of Liquidation' 'creditor Wishes']

Case Brief

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Procedural Posture

Corporations Winding Up / Interlocutory Application to Vary Liquidator Appointment Orders

Legal Issues

  1. 1 ['Should the current liquidator be removed and replaced with special purpose liquidators?' 'Is it appropriate to proceed without ascertaining creditor wishes given absence of funds?']

Ratio Decidendi

It is appropriate to remove Mr Wykes and appoint Messrs Lord and Crowe-Maxwell as liquidators, given Mr Wykes is unfunded, creditors do not support his funding, and only Ms Lo is prepared to make resources available; in these circumstances, ascertaining creditor wishes is unnecessary due to the absence of available property.

Court Disposition

Liquidator removed; special purpose liquidators appointed as joint and several liquidators.

Orders

  • ['Christopher Thomas Wykes is removed as liquidator of the company.' 'John Frederick Lord and Atle Crowe-Maxwell are appointed as liquidators, jointly and severally, of the company.' 'Within 14 days of receipt of these reasons, the liquidators are to send a copy of them to known creditors of the company.' 'The...