In the matter of Steve Carlos & Associates Pty Ltd (ACN 010 806 130) Sinclair, Stephen Wayne v George & Carlos Accountants & Advisors & Ors [1998] FCA 1777

The application was without substance because Mr Sinclair could not rely on the statutory provisions he invoked, which were available only to a liquidator or provisional liquidator, and the material did not come near justifying exercise of the Court's exceptional equitable power to appoint a receiver and manager.

Jurisdiction: Australia
Judgment Date: 18 December 1998
Procedural Posture: Application for Appointment of a Receiver and Manager / Reasons for Judgment and Orders Dismissing the Application
Outcome: Application dismissed with costs.
Legal Topics: ['appointment of Receiver and Manager' 'winding Up' 'liquidator and Provisional Liquidator Powers' 'company Assets']

['corporations Law' 'equity'] ['appointment of Receiver and Manager' 'winding Up' 'liquidator and Provisional Liquidator Powers' 'company Assets']

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Procedural Posture

Application for Appointment of a Receiver and Manager / Reasons for Judgment and Orders Dismissing the Application

Legal Issues

1 ['Whether the applicant could rely on ss 486A, 460(1)(e) and 460(1)(f) of the Corporations Law to obtain appointment of a receiver and manager for the respondent entities.' 'Whether the material justified the Court exercising its exceptional equitable authority to appoint a receiver and manager.']

Ratio Decidendi

Court Disposition

Application dismissed with costs.

Orders

['The application be dismissed.' "The applicant pay the respondents' costs of QG 175 of 1998."]