Peter Ngan re JKB Constructions Pty Ltd [2006] NSWSC 1040

Peter Ngan re JKB Constructions Pty Ltd [2006] NSWSC 1040

Leave was granted to the liquidator to appoint himself as administrator, as he was considered a suitable person with no conflict. The director was excused from further reporting under s.438B(2) via s.447A(1), but a stay of winding up was refused as the winding up should remain in place until the outcome of the deed of company arrangement process is known.

Jurisdiction
Australia
Judgment Date
03 October 2006
Procedural Posture
Corporations Winding Up Application / Application for Leave Under S.436 B(2), Orders Under S.447 A(1), and Stay of Winding Up
Outcome
Leave granted to appoint self as administrator; director excused from compliance with s.438B(2); stay of winding up refused; costs are costs of winding up.
Legal Topics
['winding Up' 'appointment of Administrator' 'deed of Company Arrangement' 'director’s Reporting Obligations' 'stay of Winding Up']
['corporations Law'] ['winding Up' 'appointment of Administrator' 'deed of Company Arrangement' 'director’s Reporting Obligations' 'stay of Winding Up']

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Procedural Posture

Corporations Winding Up Application / Application for Leave Under S.436 B(2), Orders Under S.447 A(1), and Stay of Winding Up

Legal Issues

  1. 1 ['Whether the liquidator should be granted leave to appoint himself as administrator under s.436B(2)' 'Whether the director should be excused from compliance with s.438B(2)' 'Whether a stay of winding up should be ordered']

Ratio Decidendi

Leave was granted to the liquidator to appoint himself as administrator, as he was considered a suitable person with no conflict. The director was excused from further reporting under s.438B(2) via s.447A(1), but a stay of winding up was refused as the winding up should remain in place until the outcome of the deed of company arrangement process is known.

Court Disposition

Leave granted to appoint self as administrator; director excused from compliance with s.438B(2); stay of winding up refused; costs are costs of winding up.

Orders

  • ['Grant leave to plaintiff pursuant to s.436B(2) of the Corporations Act to appoint himself as administrator pursuant to s.436B(1).' 'Order under s.447A(1) that Part 5.3A operates so s.438B(2) does not apply upon plaintiff’s appointment as administrator.' 'Costs of application are costs of winding up.']