Australian Securities and Investments Commission v Diploma Group Limited (No 5) [2017] FCA 1147

FEDERAL COURT OF AUSTRALIA

Australian Securities and Investments Commission v Diploma Group Limited (No 5) [2017] FCA 1147 File number: WAD 177 of 2017

Judge: MCKERRACHER J

Date of judgment: 26 September 2017

Catchwords: CORPORATIONS – application for leave under s 436B(2) of the Corporations Act 2001 (Cth) for liquidators to be appointed as administrators to allow creditors to vote on deed of company arrangement proposal – where, if appointed, administrators will remain liquidators of related companies – where liquidators do not seek an order staying or terminating the winding up as part of their application – whether the liquidators are appropriate persons to be administrators

Legislation: Corporations Act 2001 (Cth) ss 436A(1), 436B(1), 436B(2), 436B(2)(g), 436E, 439A, 439A(5)

Cases cited: Re Chilia Properties Pty Ltd (1997) 73 FCR 171 Re Cobar Mines Pty Ltd (in liq) (1998) 30 ACSR 125 Re Delsana Holdings Pty Ltd (in liq) [2013] FCA 500 Re Depsun Pty Ltd (1994) 13 ACSR 644 Deputy Commissioner of Taxation (Cth) v Foodcorp Pty Ltd (1994) 13 ACSR 796 Flynn v Theobald [2008] WASC 263 John R Turk & Sons (Artarmon) Pty Ltd v Newmont Television Pty Ltd [1999] NSWSC 622 Re Keldane Pty Ltd (in liq) [2011] VSC 385 Mercy & Sons Pty Ltd v Wanari Pty Ltd (2000) 35 ACSR 70 Re Nardell Coal Corp Pty Ltd (2003) 47 ACSR 122 Re Nardell Coal Corporation Pty Ltd [2004] NSWSC 281 Re National Safety Council of Australia [1990] VR 29 Parkes Leagues Club Co-Op Limited [2004] NSWSC 16 Peter Ngan, re JKB Constructions Pty Ltd [2006] NSWSC 1040 Rupert Co Ltd v Chameleon Mining NL [2005] NSWSC 719 Schwarz, in the matter of Gordon Smith Marketing Pty Ltd (Administrator Appointed) [2016] FCA 1378 Taylor, in the matter of Origin Internet Solutions Pty Ltd (in liquidation) [2004] FCA 382