Federal Court of Australia
FEDERAL COURT OF AUSTRALIA
Commonwealth Bank of Australia v Fernandez [2010] FCA 1487 Citation: Commonwealth Bank of Australia v Fernandez [2010] FCA 1487
Parties: COMMONWEALTH BANK OF AUSTRALIA (ACN 123 123 124) AND OTHERS (ACCORDING TO THE SCHEDULE) v AVITUS THOMAS FERNANDEZ AND OTHERS (ACCORDING TO THE SCHEDULE)
File number: VID 836 of 2010
Judge: FINKELSTEIN J
Date of judgment: 24 December 2010
Catchwords: CORPORATIONS – administration – notice of first meeting of creditors – sufficiency of – whether administrator required to inform creditors that a substitute administrator has been nominated – first meeting – notice not given to all creditors – power of chairperson to adjourn – resolution to remove administrator – not carried on casting vote – application to reverse resolution under s 600C of the Corporations Act 2001 (Cth) – removal of administrator – lack of resources – choice of administrator – opposed for lack of independence – "auction/tender" process considered – new administrator required to appoint independent solicitors – administrators' fees – to be fixed by court
Legislation: Corporations Act 2001 (Cth) ss 436A, 436E, 438A, 447A, 449B, 449E, 600C, 601FC, 601FD, 601FS, 1322, 1330 Corporations Regulations 2001 (Cth) regs 5.6.12, 5.6.18-21
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