Federal Court of Australia
FEDERAL COURT OF AUSTRALIA
National Investment Institute Pty Ltd (in liq) v Property Corporate Services Pty Ltd, in the matter of Property Corporate Services Pty Ltd (ACN 098 898 572) [2004] FCA 175
CORPORATIONS – interlocutory application for appointment of provisional liquidator pursuant to s 472(2) Corporations Act 2001(Cth) ("the Act") – company prima facie insolvent – receiver appointed – whether appointment of receiver a ground against appointment of provisional liquidator – history of undocumented loans within extensive company group – undertakings given by company in separate Court proceeding – whether undertakings sufficient to preserve assets and status quo of the company's affairs – proposed provisional liquidator in partnership with the plaintiff – whether s 532(2) of the Act precludes the appointment. PRACTICE AND PROCEDURE – reg 6.1 Federal Court (Corporations) Rules - whether plaintiffs required to give undertakings as to damages.
Corporations Act 2001(Cth) ss 472(2), 532(2) Federal Court (Corporations) Rules 2000 reg 6.1
Zempilas v J N Taylor Holdings Ltd (No 2) (1990) 3 ACSR 518, referred to Lubavitch Mazal Pty Ltd v Yeshiva Properties No 1 Pty Ltd (2003) 47 ACSR 197, not followed Constantinidis v J L Trading (1995) 17 ACSR 625, applied Re McLennan Holdings Pty Ltd (1983) 7 ACLR 732, applied Natwest Australia Bank Ltd v Glen Pacific Pty Ltd (1993) 6 ACSR 711, distingished
NATIONAL INVESTMENT INSTITUTE PTY LTD (ACN 098 189 863) (IN LIQUIDATION) & ANOR v PROPERTY CORPORATE SERVICES PTY LTD (ACN 098 898 572), IN THE MATTER OF PROPERTY CORPORATE SERVICES PTY LTD (ACN 098 898 572)
V 190 of 2004 GOLDBERG J 27 FEBRUARY 2004 MELBOURNE
IN THE FEDERAL COURT OF AUSTRALIA
VICTORIA DISTRICT REGISTRY V 190 OF 2004
IN THE MATTER OF PROPERTY CORPORATE SERVICES PTY LTD (ACN 098 898 572) BETWEEN: NATIONAL INVESTMENT INSTITUTE PTY LTD
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