In the Matter of Janelle Sharman Pty Ltd [2012] NSWSC 1366

In the Matter of Janelle Sharman Pty Ltd [2012] NSWSC 1366

The deed of company arrangement was terminated pursuant to Corporations Act 2001 (Cth) s 445D(1)(g) due to the circumstances of its resolution, company indebtedness, inadequacy of the fund under the deed, and the need for proper investigation.

Jurisdiction
Australia
Judgment Date
15 October 2012
Procedural Posture
Interlocutory Application / Ex Tempore Judgment
Outcome
Deed of company arrangement terminated; provisional liquidator appointed; leave granted to amend claim; proceedings adjourned; other procedural orders made.
Legal Topics
['external Administration' 'termination of Deed of Company Arrangement' 'appointment of Liquidator']
['corporations Law'] ['external Administration' 'termination of Deed of Company Arrangement' 'appointment of Liquidator']

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Procedural Posture

Interlocutory Application / Ex Tempore Judgment

Legal Issues

  1. 1 ['whether the deed of company arrangement should be terminated' 'whether a liquidator should be appointed']

Ratio Decidendi

The deed of company arrangement was terminated pursuant to Corporations Act 2001 (Cth) s 445D(1)(g) due to the circumstances of its resolution, company indebtedness, inadequacy of the fund under the deed, and the need for proper investigation.

Court Disposition

Deed of company arrangement terminated; provisional liquidator appointed; leave granted to amend claim; proceedings adjourned; other procedural orders made.

Orders

  • ['Order terminating the deed of company arrangement entered by first defendant on 28 September 2012' "First defendant to pay plaintiff's costs of the application" 'Not prepared to appoint a liquidator as sought in the originating process' 'Upon undertaking as to damages, Neil Cusson of Deloittes appointed liquidator...