Application by Solomons [2013] FCA 1273

FEDERAL COURT OF AUSTRALIA

Application by Solomons [2013] FCA 1273 Citation: Application by Solomons [2013] FCA 1273

Parties: DAVID SOLOMONS and ANTONY DE VRIES

File number: NSD 2234 of 2013

Judge: JAGOT J

Date of judgment: 15 November 2013

Catchwords: CORPORATIONS – dual appointments – conflict of interest - directions

Legislation: Bankruptcy Act 1966 (Cth) Corporations Act 2001 (Cth) Federal Court (Bankruptcy) Rules 2005

Date of hearing: 15 November 2013

Place: Sydney

Division: GENERAL DIVISION

Category: Catchwords

Number of paragraphs: 12

Counsel for the Plaintiffs: S Golledge

Solicitor for the Plaintiffs: Addisons

IN THE FEDERAL COURT OF AUSTRALIA NEW SOUTH WALES DISTRICT REGISTRY GENERAL DIVISION NSD 2234 of 2013

BETWEEN: DAVID SOLOMONS

First Plaintiff

ANTONY DE VRIES

Second Plaintiff

JUDGE: JAGOT J DATE OF ORDER: 15 NOVEMBER 2013 WHERE MADE: SYDNEY

THE COURT ORDERS THAT:

1. On the Plaintiff's undertaking, that in the event that any conflict arises that may impede or inhibit the Plaintiffs from acting impartially in the interest of all creditors in the liquidations of Sydney Financial Advisers Pty Ltd and SydFA Pty Ltd and in the bankrupt estate of Gabriel Nakhl or give rise to a reasonable apprehension that the Plaintiffs may be so impeded or inhibited, the Plaintiffs will approach the Court forthwith, the Court gives the following Directions pursuant to Corporations Act 2001 (Cth) s 511 and Bankruptcy Act 1966 (Cth) s 30: that the Plaintiffs are justified in remaining as liquidators of SydFA Pty Ltd and Sydney Financial Advisers Pty Ltd (the companies) and as trustees in bankruptcy of Gabriel Nakhl (aka Gabriel Al-Nakhl).