Federal Court of Australia
Federal Court of Australia
R.W. Pascoe Pty Ltd v Crimson Fresh Produce Pty Ltd (subject to deed of company arrangement) [2023] FCA 705 File number: QUD 73 of 2023
Judgment of: DERRINGTON J
Date of judgment: 22 May 2023
Date of publication of reasons: 26 June 2023
Catchwords: CORPORATIONS – Deed of Company Arrangement (DOCA) – termination of DOCA – DOCA no benefit to creditors – winding up likely to produce a better outcome – process of administration not being used to give company an opportunity to continue trading but to avoid investigation of suspected insolvent trading action and other potential claims against director
Legislation: Corporations Act 2001 (Cth)
Cases cited: Cresvale Far East Ltd (in liq) v Cresvale Securities Ltd (2001) 37 ACSR 394 In the matter of Sales Express Pty Ltd (Administrators Appointed) [2014] NSWSC 460 Re Citadel Financial Corporation Pty Ltd (subject to a deed of company arrangement) (2020) 146 ACSR 220 Re Recycling Holdings Pty Ltd (2015) 107 ACSR 406 Sydney Land Corp Pty Ltd v Kalon Pty Ltd (No 2) (1997) 26 ACSR 427
Division: General Division
Registry: Queensland
National Practice Area: Commercial and Corporations
Sub-area: Corporations and Corporate Insolvency
Number of paragraphs: 40
Date of hearing: 22 May 2023
Counsel for the Plaintiff: Mr L. Copley
Solicitor for the Plaintiff: HopgoodGanim
Counsel for the Defendant: The Defendant did not appear
Counsel for an Interested person: Mr Padia appeared in person
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