Tucker, in the matter of Aurora Metals Limited (Administrators Appointed) [2023] FCA 761

Federal Court of Australia

Tucker, in the matter of Aurora Metals Limited (Administrators Appointed) [2023] FCA 761 File number: WAD 147 of 2023

Judgment of: FEUTRILL J

Date of judgment: 4 July 2023

Date of publication of reasons: 6 July 2023

Catchwords: BANKRUPTCY AND INSOLVENCY – application under s 447A of the Corporations Act 2001 (Cth) to modify administrators' personal liability and indemnity under ss 443A, 443D, 443E, 443F and 556 of the Corporations Act – where administrators exposed to unlimited personal liability under a proposed loan facility agreement – where funding required urgently to protect and preserve assets of the company in administration – whether to make orders modifying administrators' personal liability – whether appropriate to hear and determine application urgently ex-parte – whether appropriate to make orders to protect and preserve the interests of third parties BANKRUPTCY AND INSOLVENCY – application under s 447C of the Corporations Act for orders for declaration validating administrators' appointment, alternatively under s 447A for orders validating administrators appointment – where secured party appointed administrators under s 436C of the Corporations Act – where security interest by which administrators appointed vested in the company under administration by operation of s 588FL of the Corporations Act – where secured party obtained order under s 588FM of the Corporations Act extending the latest time for registration of collateral on the PPSR after appointment of administrators in separate proceedings – where order extending latest time may be varied or set aside – whether appropriate to hear and determine application for declaratory or final relief – whether appropriate to make interlocutory orders validating administrators appointment unless and until order extending latest time varied or set aside