Purcom No 34 Limited (Receiver Appointed) [2009] FCA 383

Purcom No 34 Limited (Receiver Appointed) [2009] FCA 383

Given the presumption of insolvency and difficulties faced by the receiver in identifying and securing the company’s assets, the appointment of a provisional liquidator is appropriate to protect the interests of creditors and facilitate efficient administration.

Parties
Plaintiff: Purcom No. 34 Pty Limited (Receiver Appointed)
Jurisdiction
Australia
Judgment Date
20 March 2009
Procedural Posture
Winding Up Application / Interlocutory (appointment of Provisional Liquidator)
Outcome
Provisional liquidator appointed; service of originating process on director and shareholders; directions hearing listed.
Legal Topics
Appointment of Provisional Liquidator, Winding Up in Insolvency, Powers of Receiver
Corporations Law Appointment of Provisional Liquidator Winding Up in Insolvency Powers of Receiver

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Parties

Purcom No. 34 Pty Limited (Receiver Appointed)

Plaintiff

Procedural Posture

Winding Up Application / Interlocutory (appointment of Provisional Liquidator)

Legal Issues

  1. 1 Whether a provisional liquidator should be appointed to Purcom No. 34 Pty Limited
  2. 2 Whether the statutory presumption of insolvency applies under s 459C of the Corporations Act 2001 (Cth)
  3. 3 Whether notice to the director and shareholders is appropriate in absence of defendant

Ratio Decidendi

Given the presumption of insolvency and difficulties faced by the receiver in identifying and securing the company’s assets, the appointment of a provisional liquidator is appropriate to protect the interests of creditors and facilitate efficient administration.

Court Disposition

Provisional liquidator appointed; service of originating process on director and shareholders; directions hearing listed.

Orders

  • The originating process and affidavits to be served on Robert Tucker and Lynette Tucker by registered mail at 3 Townsend Street, Ivanhoe, Victoria.
  • Greg Parker appointed provisionally as liquidator of the Plaintiff under s 472(2) of the Corporations Act 2001 (Cth).