Federal Court of Australia
Federal Court of Australia
Tucker, in the matter of Quintis Leasing Pty Ltd [2023] FCA 1673 File number: WAD 332 of 2023
Judgment of: FEUTRILL J
Date of judgment: 22 December 2023
Date of publication of reasons: 10 January 2024
Catchwords: CORPORATIONS – application under s 447A(1) and 443B(8) and s 90-15 of Schedule 2 – Insolvency Practice Schedule (Corporations) of the Corporations Act 2001 (Cth) to modify operation of the five-business day period in s 443B(2) and s 443B(3) of the Act – principles governing the exercise of power under s 447A(1) and s 90-15 to exclude administrators' personal liability under s 443A(1)(c) and s 443B(2), excuse liability under s 443B(8) and extend time to give notice to owner or lessor under s 443B(3) – where significant number of leases and counterparties and complex corporate group structure and operations affecting leases – whether five-business days insufficient for administrators, exercising appropriate diligence, to form a view as to whether company should exercise rights in relation to leased property – whether personal liability of administrators should be excluded to extended date – whether time to give notice that the company does not propose to exercise rights in relation to leased property should be extended – whether modification of the operation of s 443B in the interests of creditors as a whole – whether interests of persons prejudiced by modification are protected by terms of orders
Legislation: Corporations Act 2001 (Cth) ss 435A, 443A(1)(c), 443B, 443B(2), 443B(2)(a), 443B(3), 443B(8), 443D, 447A(1), 447A(4)(c) Transfer of Land Act 1893 (WA)
Cases cited: Algeri (administrator), in the matter of Murray & Roberts Pty Ltd (administrators appointed) [2022] FCA 1506 Bumbak (Administrator), in the matter of Duro Feguera Australia Pty Limited (Aministrators Appointed) [2020] FCA 422 In the matter of Mothercare Australia Ltd (Administrators Appointed) [2013] NSWSC 263 In the matter of Renex Holdings (Dandenong) 1 Pty Ltd (administrators appointed) [2015] NSWSC 2002 Korda, in the matter of Ten Network Holdings Ltd (administrators appointed) (receivers and managers appointed) [2017] FCA 1144 Mentha, in the matter of Griffin Coal Mining Co Pty Ltd (administrators appointed) [2010] FCA 1469; (2010) 82 ACSR 142 Re Unlocked Ltd (administrators appointed) [2018] VSC 345 Secator, in the matter of Fletcher Jones and Staff Pty Ltd (administrators appointed) [2011] FCA 1493 Silvia v FEA Carbon Pty Ltd (2010) 185 FCR 301 Strawbridge (Administrator), in the matter of CHCH Group Pty Ltd (Administrators Appointed) (No 2) [2020] FCA 472 Strawbridge, in the matter of Virgin Australia Holdings Ltd (administrators appointed) [2020] FCA 571 Strawbridge, in the matter of Virgin Australia Holdings Ltd (administrators appointed) (No 2) [2020] FCA 717; (2020) 144 ACSR 347
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