Korda, in the matter of Ten Network Holdings Ltd (Administrators Appointed) (Receivers and Managers Appointed) [2017] FCA 1144

FEDERAL COURT OF AUSTRALIA

Korda, in the matter of Ten Network Holdings Ltd (Administrators Appointed) (Receivers and Managers Appointed) [2017] FCA 1144 File number: NSD 1487 of 2017

Judge: MARKOVIC J

Date of judgment: 30 August 2017

Catchwords: BANKRUPTCY AND INSOLVENCY – application to modify administrators' personal liability and indemnity – where administrators exposed to personal liability for proposed recapitalisation transaction – whether to make orders modifying administrators' liability – application allowed BANKRUPTCY AND INSOLVENCY – application to extend time for registration of collateral on the Personal Property Securities Register – where administrators appointed – where security interest arises after appointment of administrators – where security interest gives effect to proposed recapitalisation transaction – whether to extend time for registration – application allowed BANKRUPTCY AND INSOLVENCY – application for directions regarding funds handling by external administrator – where companies in administration part of a corporate group – where one member of corporate group acted as treasury management company – where compliance with funds handling provisions would incur unnecessary costs in the administrations – whether to make directions inconsistent with funds handling provisions – application allowed

Legislation: Corporations Act 2001 (Cth) ss 443A, 443D, 447A, 588FL, 588FM, ss 65-5, 65-10, 65-15, 65-25, 65-45 of Sch 2