Naudi, in the matter of ACN 156 335 787 Pty Ltd (in liq) [2017] FCA 815

FEDERAL COURT OF AUSTRALIA

Naudi, in the matter of ACN 156 335 787 Pty Ltd (in liq) [2017] FCA 815 File number: SAD 160 of 2017

Judge: BESANKO J

Date of judgment: 24 July 2017

Catchwords: CORPORATIONS – external administrations – consideration of an application for the removal and appointment of court appointed liquidators pursuant to s 473(1) and (7) of the Corporations Act 2001 (Cth) – where a co-liquidator intending to resign from appointments applies to the Court for an order removing himself as liquidator and appointing another in his place – where relevant liquidations include appointments by this Court and other superior courts – where this Court has power to make orders under s 473(7) even where the liquidation and appointment of liquidators was made by another superior court – where exercise of the Court's powers under s 473 will best serve the administration of the liquidation – where appropriate to have the appointment of two joint and several liquidators – where appropriate for ensuring continuity in the liquidation to appoint liquidators from the one firm – where relevant consents, declarations of independence, relevant relationships and indemnities have been executed. CORPORATIONS – external administrations – consideration of an application for the removal and appointment of liquidators appointed in creditors' voluntary liquidations pursuant to s 503 of the Act – where removal and appointment by the Court will avoid unnecessary expense and delay in the liquidations – where removal of a liquidator in circumstances of an expressed intention to resign is for the better conduct of the liquidation.

Legislation: Associations Act (NT) s 72 Corporations Act 2001 (Cth) ss 58AA, 473, 503, 530