Federal Court of Australia
Federal Court of Australia
Wight, in the matter of Verve Portraits Pty Ltd (administrators appointed) [2023] FCA 1014 File number(s): VID 662 of 2023
Judgment of: O'CALLAGHAN J
Date of judgment: 25 August 2023
Catchwords: CORPORATIONS – external administration – voluntary administration – company a trading trust – whether administrators ought to be appointed as receivers of trust assets – administrators sought to effect sale of business as a going concern – administrators sought direction that they be justified in treating the property in the name of the company as property of the trust – orders made
Legislation: Corporations Act 2001 (Cth) ss 437A, 437B, 437D, 447A Insolvency Practice Schedule (Corporations) ss 90-15 Federal Court of Australia Act 1976 (Cth) s 57
Cases cited: Caterpillar Financial Australia Limited v Ovens Nominees Pty Ltd [2011] FCA 677 Trenfield, In the matter of Crusaders Managers Pty Ltd (Administrators Appointed) [2018] FCA 876
Division: General Division
Registry: Victoria
National Practice Area: Commercial and Corporations
Sub-area: Corporations and Corporate Insolvency
Number of paragraphs: 30
Date of hearing: 24 August 2023
Counsel for the Plaintiffs: Mr AA Segal
Solicitor for the Plaintiffs: Danaher Moulton
ORDERS VID 662 of 2023 IN THE MATTER OF VERVE PORTRAITS PTY LTD (ADMINISTRATORS APPOINTED) BARRY WIGHT (IN HIS CAPACITY AS JOINT AND SEVERAL ADMINISTRATOR OF VERVE PORTRAITS PTY LTD) (ADMINISTRATORS APPOINTED) (ACN 131 047 400) First Plaintiff
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