Barnden, in the matter of Saeco South Australia Pty Ltd (in liq) [2021] FCA 1204

Federal Court of Australia

Barnden, in the matter of Saeco South Australia Pty Ltd (in liq) [2021] FCA 1204 File number: NSD 1617 of 2019

Judge: CHEESEMAN J

Date of judgment: 6 October 2021

Date of publication of reasons: 7 October 2021

Catchwords: CORPORATIONS – application by liquidator under section 488 of the Corporations Act 2001 (Cth) for special leave to distribute surplus funds – where all assets of the company have been realised - where liquidator's investigations reveal no further potential creditors – where there existed an arrangement between shareholders of the company in respect of any surplus funds– where all but one of the contributories have been notified of the application and have raised no objections – where location of remaining contributory is unknown – where the creditors of the company have been notified and have raised no objections – whether the circumstances warrant special leave being granted – whether the requirements of the Federal Court (Corporations) Rules 2000 (Cth) and Act are met – whether dispensation ought to be made in respect of publication and form requirements under the rules – Held: application successful CORPORATIONS – application by liquidator under s 480(d) of the Corporations Act 2001 (Cth) to be released as liquidator of the company in liquidation and order that the company be deregistered by ASIC – whether the requirements of s 480(d) and rule 7.5 of the Federal Court (Corporations) Rules 2000 (Cth) have been met - Held: application successful

Legislation: Corporations Act 2000 (Cth), ss 480, 488 Corporations Regulations 2001 (Cth), reg 5.6.71(1) Federal Court (Corporations) Rules 2000 (Cth), rr 7.5, 7.9