Federal Court of Australia
FEDERAL COURT OF AUSTRALIA
Kitay, in the matter of South West Kitchens (WA) Pty Ltd [2014] FCA 670 Citation: Kitay, in the matter of South West Kitchens (WA) Pty Ltd [2014] FCA 670
Parties: MERVYN JONATHON KITAY IN HIS CAPACITY AS LIQUIDATOR OF SOUTH WEST KITCHENS (WA) PTY LTD (IN LIQUIDATION) ACN 111 679 568 and SOUTH WEST KITCHENS (WA) PTY LTD (IN LIQUIDATION) ACN 111 679 568
File number: WAD 108 of 2014
Judge: MCKERRACHER J
Date of judgment: 24 June 2014
Corrigendum: 24 June 2014
Catchwords: INSOLVENCY – conduct of liquidators – trust deed precluded company from continuing to act as the trustee after the appointment of the liquidator – liquidators sought court order for sale of property – liquidator may exercise the power of sale granted pursuant to s 477 of the Corporations Act 2001 (Cth) –liquidator's statutory power of sale in s 477(2)(c) is not limited by terms of private trust agreement insofar as the assets of the company are held on trust – seeking the assistance of the Court may be appropriate on some occasions but the liquidator is not required in each such instance to obtain a Court order for the sale of trust assets
Legislation: Corporations Act 2001 (Cth) s 477(2)(c)
Cases cited: Apostolou v VA Corporation Aust Pty Ltd (2010) 77 ACSR 84 Apostolou v VA Corporation of Aust Pty Ltd [2011] FCAFC 103 Bastion v Gideon Investments Pty Ltd (in liq) (2000) 35 ACSR 466 Caterpillar Financial Australia Limited v Ovens Nominees Pty Ltd [2011] FCA 677 CSR Ltd v Eddy (2005) 226 CLR 1 Fletcher, in the matter of Starrit Pty Ltd (in liq) [2012] FCA 803 Re Indopal Pty Ltd (1987) 12 ACLR 54 Kerr, in the matter of Angel's Castle Pre-School Pty Ltd (In Liquidation) [2010] FCA 786 Neeeat Holdings (in liq) (2013) 299 ALR 744 Pleash, in the matter of Suncoast Restoration Pty Ltd (in liq) (2013) 211 FCR 203 Re Suco Gold Pty Ltd (in liq) (1983) 33 SASR 99 Theobald, in the matter of Finplas Pty Ltd [2014] FCA 31 UTSA Pty Ltd (in liq) v Ultra Tune Australia Pty Ltd (1996) 21 ACSR 457
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