Nipps (Administrator) v Remagen Lend ADA Pty Ltd, in the matter of Adaman Resources Pty Ltd (Administrators Appointed) (No 8) [2021] FCA 1260

Nipps (Administrator) v Remagen Lend ADA Pty Ltd, in the matter of Adaman Resources Pty Ltd (Administrators Appointed) (No 8) [2021] FCA 1260

It was appropriate to make the orders validating the administrators' appointment under s 447A, in view of discontinued opposition, no evidence of abuse of process, and the proper exercise of court discretion as guided by the principles for the curative jurisdiction.

Parties
First Plaintiffs: Jeremy Nipps and Barry Wight in their capacity as joint and several administrators of the second to eighth plaintiffs; Second Plaintiff: Adaman Resources Pty Ltd (Administrators Appointed); Third Plaintiff: Adaman Minerals Pty Ltd (Administrators Appointed); Fourth Plaintiff: Adaman Gold Hold Co Pty Ltd (Administrators Appointed); Fifth Plaintiff: Adaman Gold Pty Ltd (Administrators Appointed); Sixth Plaintiff: Goldlake Holdings Pty Ltd (Administrators Appointed); Seventh Plaintiff: Hopstorm Pty Ltd (Administrators Appointed); Eighth Plaintiff: Kirkalocka Gold SPV Pty Ltd (Administrators Appointed); Defendant: Remagen Lend ADA Pty Ltd
Jurisdiction
Australia
Judgment Date
08 October 2021
Procedural Posture
Corporations Administration Application / Determination of Application for Validation of Administrators' Appointment
Outcome
Orders made validating the appointment of administrators to Adaman Resources Pty Ltd and Adaman Minerals Pty Ltd under s 447A of the Corporations Act 2001 (Cth).
Legal Topics
Appointment of Administrators, Validity of Administrator Appointment, Court Powers Under Corporations Act S 447 a
Corporations Law Insolvency Appointment of Administrators Validity of Administrator Appointment Court Powers Under Corporations Act S 447 a

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 3 Authorities cited 9 Party arguments 2
Sign in to unlock

Parties

Jeremy Nipps and Barry Wight in their capacity as joint and several administrators of the second to eighth plaintiffs

First Plaintiffs

Adaman Resources Pty Ltd (Administrators Appointed)

Second Plaintiff

Adaman Minerals Pty Ltd (Administrators Appointed)

Third Plaintiff

Adaman Gold Hold Co Pty Ltd (Administrators Appointed)

Fourth Plaintiff

Adaman Gold Pty Ltd (Administrators Appointed)

Fifth Plaintiff

Goldlake Holdings Pty Ltd (Administrators Appointed)

Sixth Plaintiff

Hopstorm Pty Ltd (Administrators Appointed)

Seventh Plaintiff

Kirkalocka Gold SPV Pty Ltd (Administrators Appointed)

Eighth Plaintiff

Remagen Lend ADA Pty Ltd

Defendant

Procedural Posture

Corporations Administration Application / Determination of Application for Validation of Administrators' Appointment

Legal Issues

  1. 1 Whether administrators were validly appointed to Adaman Resources Pty Ltd and Adaman Minerals Pty Ltd
  2. 2 Whether the court should exercise its discretion under s 447A of the Corporations Act 2001 (Cth) to validate the appointments

Ratio Decidendi

It was appropriate to make the orders validating the administrators' appointment under s 447A, in view of discontinued opposition, no evidence of abuse of process, and the proper exercise of court discretion as guided by the principles for the curative jurisdiction.

Court Disposition

Orders made validating the appointment of administrators to Adaman Resources Pty Ltd and Adaman Minerals Pty Ltd under s 447A of the Corporations Act 2001 (Cth).

Orders

  • Pursuant to s 447A, Part 5.3A of the Act operates as if Mr Nipps and Mr Wight were validly appointed as joint and several administrators of the second and third plaintiffs as of 1 May 2021 under s 436A.
  • Plaintiffs' costs relating to the second and third plaintiffs are to be costs in the administration of those companies.