Apostolou v VA Corporation of Aust Pty Ltd [2011] FCAFC 103

FEDERAL COURT OF AUSTRALIA

Apostolou v VA Corporation of Aust Pty Ltd [2011] FCAFC 103 Citation: Apostolou v VA Corporation of Aust Pty Ltd [2011] FCAFC 103

Appeal from: Apostolou v VA Corporation Aust Pty Ltd [2010] FCA 64

Parties: VASILIKI APOSTOLOU (AS TRUSTEE OF THE VA UNIT TRUST & VASILIOU FAMILY TRUST) and ANDREW VASILIOU (AS TRUSTEE OF THE VA UNIT TRUST) v VA CORPORATION OF AUST PTY LTD (ACN 006 760 792), DAVID CHARLES QUIN, CLYDE PETER WHITE (AS JOINT LIQUIDATORS OF VA CORPORATION OF AUST PTY LTD (ACN 006 760 792), PERPETUAL TRUSTEE COMPANY LIMITED (ACN 000 001 007), CHALLENGER MANAGED INVESTMENTS LIMITED (ACN 94 002 835 592) and REGISTRAR OF TITLES ANDREW VASILIOU v CHALLENGER MANAGED INVESTMENTS LIMITED (ACN 002 835 592), PERPETUAL TRUSTEE COMPANY LIMITED (ACN 000 001 007), COMMISSIONER OF STATE REVENUE, CITY OF PORT PHILLIP COUNCIL, JOHN MATTHIES & CO and REGISTRAR OF TITLES

File number(s): VID 143 of 2010 VID 704 of 2008

Judges: PERRAM, NICHOLAS & YATES JJ

Date of judgment: 15 August 2011

Corrigendum: 22 September 2011

Catchwords: BANKRUPTCY AND INSOLVENCY – sale of property by mortgagee – whether mortgagee had power of sale – whether notice of default properly served and the power of sale properly exercised BANKRUPTCY AND INSOLVENCY – conduct of liquidators – where liquidators sought court order for sale of property – whether liquidation unnecessarily delayed BANKRUPTCY AND INSOLVENCY – conduct of liquidators – where company in liquidation is solvent – whether liquidators failed to take steps to terminate liquidation