Federal Court of Australia
FEDERAL COURT OF AUSTRALIA
McCallum, in the Matter of Re Holdco Pty Ltd (Administrators Appointed) [2020] FCA 666 File number(s): VID 285 of 2020
Judge(s): O'BRYAN J
Date of judgment: 1 May 2020
Date of publication of reasons: 19 May 2020
Catchwords: CORPORATIONS – application by administrators for leave under s 44C(2)(c) of the Corporations Act 2010 (Cth) to dispose of property of the companies under administration that is subject to a security interest and property used or occupied by, or in the possession of, the companies under administration but of which someone else is the owner – where application made urgently because of condition precedent to sale proposed by administrators – whether arrangements made that would adequately protect the interests of the secured parties and owners of the property being sold – ancillary relief granted under s 447A of the Corporations Act to ensure that intellectual property rights can be transferred unencumbered by security interests
Legislation: Corporations Act 2010 (Cth) ss 442C, 444F, 447A, 447D Federal Court of Australia Act 1976 (Cth) s 37AF(1)(b) Personal Property Securities Act 2009 (Cth)
Cases cited: Australasian Memory Pty Ltd v Brien (2000) 200 CLR 270 Correa v Whittingham (2013) 278 FLR 310 Hamilton and Fiorentino as Administrators of Kisoro Pty Ltd v National Australia Bank Ltd (1996) 66 FCR 12 Mentha v GE Capital Ltd (1997) 27 ACSR 696 Re Le Meilleur Pty Ltd (2011) 256 FLR 240 Re Luxtown Pty Ltd (administrators appointed) [2019] FCA 1861 Re Renovation Boys Pty Ltd (administrators appointed) [2014] NSWSC 340 Re Rewards Projects Ltd (administrators appointed) [2010] WASC 394
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