Robit Nominees Pty Ltd v Oceanlinx Limited (in liq) (Receivers and Managers Appointed), in the matter of Oceanlinx Limited (in liq) (Receivers and Managers Appointed) [2016] FCA 225

FEDERAL COURT OF AUSTRALIA

Robit Nominees Pty Ltd v Oceanlinx Limited (in liq) (Receivers and Managers Appointed), in the matter of Oceanlinx Limited (in liq) (Receivers and Managers Appointed) [2016] FCA 225 File number(s): NSD 1304 of 2014

Judge(s): YATES J

Date of judgment: 11 March 2016

Catchwords: CORPORATIONS – external administration – supervision of the administrators of a company – whether the administrators have managed the company's business, property or affairs in a way that is prejudicial to the interests of some or all of the company's creditors – sale of company assets CORPORATIONS – external administration – appeal from a decision of the administrators – decision to sell assets of a company CORPORATIONS – duties and powers of officers – duties and powers of administrators – proceedings for breach of duties and powers – standing of creditors to bring proceedings for breach of duties and powers CORPORATIONS – external administration – voluntary winding up – application to remove liquidators

Legislation: Bankruptcy Act 1966 (Cth) s 178 Corporations Act 2001 (Cth) ss 127, 128, 129,180, 181, 182, 436A, 436E, 437A, 437B, 439A, 440B, 447E, 503, 588FP, 1321, 1322, Pt 5.3A Personal Property Securities Act 2009 (Cth)

Cases cited: Correa v Whittingham (2013) 278 FLR 310; [2013] NSWCA 263 Eden Energy Ltd v Drivetrain US Inc (2012) 90 ACSR 191; [2012] WASC 192 Hausmann v Smith [2006] NSWSC 682 Honest Remark Pty Ltd v Allstate Explorations NL (2006) 201 FLR 456; [2006] NSWSC 735 In re Adam Eyton Limited; Ex parte Charlesworth (1887) 36 Ch D 299 In the matter of Joe & Joe Developments Pty Limited (subject to a Deed of Company Arrangement) [2014] NSWSC 1444 Labocus Precious Metals Pty Ltd v Thomas [2007] FCA 1154 Northside Developments Pty Ltd v Registrar General (1990) 170 CLR 146; [1990] HCA 32 Oris Funds Management Ltd v National Australia Bank Ltd [2003] VSC 315 Owners of Shin Kobe Maru v Empire Shipping Co Inc (1994) 181 CLR 404; [1994] HCA 54 Queensland Bacon Pty Ltd v Rees (1966) 115 CLR 266; [1966] HCA 21 Re Keypak Homecare Ltd [1987] BCLC 409 Silver v Dome Resources NL (2007) 62 ACSR 539; [2007] NSWSC 455 Soyfer v Earlmaze Pty Ltd [2000] NSWSC 1068 Spies v The Queen (2000) 201 CLR 603; [2000] HCA 43 Strawbridge and Tracy in their capacity as joint and several administrators, in the matter of Oceanlinx Limited [2014] FCA 524 Sunburst Properties Pty Ltd (in liq) v Agwater Pty Ltd [2005] SASC 335 Weinstock v Beck (2013) 251 CLR 396; [2013] HCA 14