Singleton & Anor v Andreones Pty Ltd [2005] NSWSC 730

With the Macquarie Bank undertaking to restore facilities, the company will be solvent and the events leading to administration will be defused, warranting an order ending the administration under s.447A of the Corporations Act.

Parties: Plaintiff: Neil Geoffrey Singleton; Plaintiff: Anthony Milton Sims; Defendant: Andreones Pty Limited
Jurisdiction: Australia
Judgment Date: 18 July 2005
Procedural Posture: Application Under Corporations Act S 447 a / Hearing and Determination of Application for Termination of Voluntary Administration
Outcome: Order: administration terminated under s.447A of the Corporations Act 2001 (Cth)
Legal Topics: Voluntary Administration, Termination of Administration, Solvency, Secured Creditor Undertakings

Corporations Law Voluntary Administration Termination of Administration Solvency Secured Creditor Undertakings

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 2 Authorities cited 3 Party arguments 2

Parties

Neil Geoffrey Singleton

Plaintiff

Anthony Milton Sims

Plaintiff

Andreones Pty Limited

Defendant

Procedural Posture

Application Under Corporations Act S 447 a / Hearing and Determination of Application for Termination of Voluntary Administration

Legal Issues

1 Whether administration of Andreones Pty Ltd should end under s.447A of the Corporations Act 2001 (Cth)
2 Whether court can be satisfied as to solvency if Macquarie Bank reinstates facilities

Ratio Decidendi

Court Disposition

Order: administration terminated under s.447A of the Corporations Act 2001 (Cth)

Orders

Upon undertaking from Macquarie Bank to reinstate company’s facilities and not to treat previous events as defaults, order made that the administration of Andreones Pty Limited end on 18 July 2005.
Costs of the application to be costs in the administration.