Mercator Property Consultants Pty Ltd v Christmas Island Resort Pty Ltd [1998] FCA 1415

FEDERAL COURT OF AUSTRALIA CORPORATIONS – receiver and manager- whether grant of powers of sale and realisation appropriate. MERCATOR PROPERTY CONSULTANTS PTY LTD (ACN 008 737 022) v CHRISTMAS ISLAND RESORT PTY LTD (ACN 009 160 123) AND ORS WG 3017 of 1998 R D NICHOLSON J PERTH 7 OCTOBER 1998

NO QUESTION OF PRINCIPLE IN THE FEDERAL COURT OF AUSTRALIA

Western Australia DISTRICT REGISTRY WG 3017 of 1998

BETWEEN: mercator property consultants pty ltd

(acn 008 737 022)

Applicant

AND: chriStmas island resort pty ltd

(acn 009 160 123)

First Respondent

ROBBY SUMAMPOW, JOKKY HIDAYAT,

KWIK SOEN HOEK and HERMAN TJAHAJDI GANI

Second Respondents

JUDGE: r d nicholson j

DATE OF ORDER: 7 october 1998

WHERE MADE: PERTH

THE COURT ORDERS THAT: 1. The Receiver and Manager have leave to sell, realise or otherwise dispose of such of the following assets of the first respondent ("CIR") as are necessary to pay or provide for the receiver and manager's present and anticipated costs, expenses, liabilities and disbursements or the present and anticipated liabilities of CIR and of the applicant incurred by it in relation to these proceedings, including but not limited to the costs of obtaining the appointment of the receiver and manager: (a) the property known as Seaview Lodge; (b) the property known as Christmas Island Lodge; (c) the property known as the Poon Saan settlement; (d) motor vehicles; (e) construction equipment; (f) aeroplanes; (g) investment in Christmas Island laundry; (h) surplus plant and equipment. which are more particularly described in paragraph 6 of the affidavit of Jeffrey Lawrence Herbert sworn 25 September 1998 and filed herein. 2. The Receiver and Manager have leave to seek or consent to be appointed as and act as provisional liquidator or liquidator of CIR or administrator of CIR and administrator of a Deed of Company Arrangement of CIR. 3. The Receiver and Manager have power: (a) to borrow or raise money in respect of the receivership and management of CIR on behalf of or as agent for CIR and without limiting the generality thereof with respect to any such borrowing or raising, draw, make, accept, endorse, execute and issue bills of exchange; (b) to pay or appropriate to his own use absolutely, the Receivers and Managers costs, expenses, liabilities and disbursements; and (c) to grant a mortgage and/or charge over any of the assets and undertaking of CIL to secure repayment of any money's borrowed or raised pursuant to Order 4(a) above. 4. The Receiver and Manager be entitled to the costs of this application provided for out of the funds of the first respondent. 5. There be liberty to apply. Note: Settlement and entry of orders is dealt with in Order 36 of the Federal Court Rules.