Federal Court of Australia
Federal Court of Australia Phoenix Institute of Australia Pty Ltd (in liq), in the matter of Phoenix Institute of Australia Pty Ltd (in liq) [2021] FCA 1203 File number(s): NSD 950 of 2021
Judgment of: CHEESEMAN J
Date of judgment: 6 October 2021
Date of publication of reasons: 7 October 2021
Catchwords: CORPORATIONS – application under ss 60-10 and 90-15 of the Insolvency Practice Schedule (Corporations) for approval of remuneration of special purpose liquidators – where company in liquidation was a vocational education and training provider – where the company received in excess of $100 million in VET FEE-HELP funding from the Commonwealth – where the company experienced extraordinary growth and subsequently rapid failure - where special purpose liquidators were appointed in earlier proceedings for the purpose of conducting investigations into possible recoveries available to the Commonwealth government – whether having regard to the special purpose liquidators' scope of works, the fees incurred were properly and necessarily incurred – whether the special purpose liquidators' remuneration is fair and reasonable – Held: application successful
Legislation: Corporations Act 2001 (Cth), Schedule 2, ss 60-5, 60-10, 60-12, 90-10, 90-15, 90-20 Federal Court (Corporations) Rules 2000 (Cth), r 9.2(2)(c)
Cases cited: Commonwealth of Australia (Department of Education, Skills and Employment) v Phoenix Institute of Australia Pty Limited (in liq) [2020] FCA 937 In the matter of Fearndale Holdings Pty Ltd (admin apptd) (recs & mgrs apptd) [2020] NSWSC 901 Langdon, In the matter of Phoenix Institute of Australia Pty Ltd (in liq) (No 2) 2021 FCA 571 Re Owen; RiverCity Motorway Pty Ltd (admins apptd) (recs and mgrs apptd) v Madden (No 2) [2012] FCA 312 Re Sallway, Mossgreen Pty Ltd (in liq) (remuneration of liquidators) [2019] FCA 1771 (2019) 140 ACSR 331 Sanderson as Liquidator of Sakr Nominees Pty Ltd (in liq) v Sakr [2017] NSCA 38; (2017) 93 NSWLR 459
We try to embed the page this law was scraped from. If the site blocks framing, you still get the link and a local excerpt.
Last checked with source on —
Checking whether the official page can be embedded…
Plain-English simplify of this law: a short summary, key points, and both sides of the argument. Generated on first view via Replicate, then cached. Vote on what helps your study.
No study brief is cached for this law yet. Sign up to generate a plain-English brief.
Sign up to generate