Federal Court of Australia
Federal Court of Australia
Higgins v JSS Logistics Pty Ltd (in liq) (No 2) [2023] FCA 92 File number: WAD 265 of 2021
Judgment of: BANKS-SMITH J
Date of judgment: 9 February 2023
Date of publication of reasons: 14 February 2023
Catchwords: CORPORATIONS - application by liquidators of company for approval of entry into settlement deed under s 477(2A) and s 477(2B) of Corporations Act 2001 (Cth) - settlement involves payment from funds held on trust - dispute as to access to trust funds - compromise of debt due to company in liquidation - whether resolution of a number of claims by way of settlement deed commercially reasonable and in interests of creditors - potential for performance to exceed three months - application granted
Legislation: Corporations Act 2001 (Cth) s 477, Division 6, Part 5.6
Cases cited: Ball, in the matter of ACN 605 650 182 Pty Ltd (in liq) [2022] FCA 2 Corporate Affairs Commission v ASC Timber Pty Ltd (1998) 16 ACLC 1642 Higgins v JSS Logistics Pty Ltd (in liq) [2022] FCA 1320 Lindholm (liquidator), in the matter of Aviation 3030 Pty Ltd (in liq) [2021] FCA 1244 Rathner v Fopar Nominees Pty Ltd, in the matter of Reliance Franchise Partners Pty Ltd (in liq) [2022] FCA 1313 Re Opel Networks Pty Ltd [2013] NSWSC 1245 Vardy v Linz, in the matter of Bondi Pizza Pty Ltd (in liq) [2021] FCA 530
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