Spandri v Deme Pty Ltd [2021] NSWSC 899

Spandri v Deme Pty Ltd [2021] NSWSC 899

It was just and convenient to appoint a receiver and manager to Deme Pty Ltd under s 67 of the Supreme Court Act 1970 (NSW), given that the company was left without a director following the death of the sole director and shareholder, and urgent action was required to ensure the company could meet its contractual obligations and preserve its assets pending determination of the parties' competing claims to letters of administration and beneficial entitlement to the estate.

Jurisdiction
Australia
Judgment Date
22 July 2021
Procedural Posture
Corporations – Receivership Application / Interlocutory Orders Appointing Receiver
Outcome
Interim receiver and manager appointed to assets and business of Deme Pty Ltd; directions made for progression of administration proceedings.
Legal Topics
['appointment of Receiver and Manager' 'company With Sole Deceased Director/shareholder' 'intestate Succession and Administration of Estate']
['corporations Law' 'equity'] ['appointment of Receiver and Manager' 'company With Sole Deceased Director/shareholder' 'intestate Succession and Administration of Estate']

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Procedural Posture

Corporations – Receivership Application / Interlocutory Orders Appointing Receiver

Legal Issues

  1. 1 ['Whether it is just and convenient to appoint a receiver and manager to a company with no current director due to the death of the sole director/shareholder' "Scope and terms of the receiver's appointment" 'Requirement for interlocutory relief pending determination of estate administration']

Ratio Decidendi

It was just and convenient to appoint a receiver and manager to Deme Pty Ltd under s 67 of the Supreme Court Act 1970 (NSW), given that the company was left without a director following the death of the sole director and shareholder, and urgent action was required to ensure the company could meet its contractual obligations and preserve its assets pending determination of the parties' competing claims to letters of administration and beneficial entitlement to the estate.

Court Disposition

Interim receiver and manager appointed to assets and business of Deme Pty Ltd; directions made for progression of administration proceedings.

Orders

  • ["Schon Gregory Condon appointed as receiver and manager of Deme Pty Ltd's existing business and interest in Lasso Road Joint Venture and Contract for Sale." 'Receiver to act until grant of probate or letters of administration, 8 weeks from order, or further order.' 'Receiver to have powers to supervise business,...