In the matter of Columbia Private Holdings Pty Ltd and other companies [2017] NSWSC 1859

In the matter of Columbia Private Holdings Pty Ltd and other companies [2017] NSWSC 1859

The Court has the power under IPS s 90-15 to remove and replace a liquidator in creditors' voluntary winding up, regardless of the repealed ss 502 and 503, and such powers are consolidated and sufficient due to the general supervisory power now provided.

Jurisdiction
Australia
Judgment Date
03 October 2017
Procedural Posture
Application for Removal and Replacement of Liquidator / Ex Tempore Judgment on Application
Outcome
Application granted; liquidator removed and new liquidator appointed.
Legal Topics
['external Administration' 'liquidator Removal' 'liquidator Replacement']
['corporations' 'insolvency'] ['external Administration' 'liquidator Removal' 'liquidator Replacement']

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Procedural Posture

Application for Removal and Replacement of Liquidator / Ex Tempore Judgment on Application

Legal Issues

  1. 1 ["Whether the Court has power under Insolvency Practice Schedule (Corporations) s 90-15 to remove and replace a liquidator in a creditors' voluntary winding up." "Whether the Court's powers under repealed (CTH) Corporations Act 2001 ss 502 and 503 are sufficiently replicated by IPS s 90-15."]

Ratio Decidendi

The Court has the power under IPS s 90-15 to remove and replace a liquidator in creditors' voluntary winding up, regardless of the repealed ss 502 and 503, and such powers are consolidated and sufficient due to the general supervisory power now provided.

Court Disposition

Application granted; liquidator removed and new liquidator appointed.

Orders

  • ['Manfred Holzman be removed at his own request as liquidator of each of the entities listed in the Schedule.' 'Justin Holzman be appointed liquidator of the said entities in place of Manfred Holzman.' 'Leave reserved to any creditor of any of the said entities to apply to vary or set aside these orders within 14...