Kelly (administrator), in the matter of Lutum Holdings Pty Ltd (administrators appointed) [2024] FCA 554

Federal Court of Australia

Kelly (administrator), in the matter of Lutum Holdings Pty Ltd (administrators appointed) [2024] FCA 554 File number(s): NSD 606 of 2024

Judgment of: HALLEY J

Date of judgment: 16 May 2024

Catchwords: CORPORATIONS – application by administrators for orders pursuant to s 443A and s 447A of the Corporations Act 2001 (Cth) and s 90-15 of the Insolvency Practice Schedule (Corporations) (IPS) for orders that the administrators are justified in entering into funding deed and to limit personal liability of administrators – application for orders pursuant to s 65-45 and s 90-15 of the IPS for orders regarding the operation of a single bank account – where ongoing trade of the business is in the best interests of creditors – where group of companies operated through use of co-mingled funds – application granted – orders made

Legislation: Corporations Act 2001 (Cth) ss 436A, 443A, 443D, 443F, 447A, 556 Insolvency Practice Schedule (Corporations) ss 60-45, 65-5, 65-15, 65-25, 65-45, 90-15, 90-20 Federal Court of Australia Act 1976 (Cth) s 37AG

Cases cited: Hill, in the matter of Ovato Limited (Administrators Appointed) [2022] FCA 903 In the matter of RCR Tomlinson Ltd (administrators appointed) [2018] NSWSC 1859 Kelly, in the matter of Halifax Investment Services Pty Ltd (in liquidation) (No 8) [2020] FCA 533 Korda, in the matter of Ten Network Holdings Ltd (Administrators Appointed) (Receivers and Managers Appointed) [2017] FCA 1144 Krejci, in the matter of Union Standard International Group Pty Ltd (Administrators Appointed) (No 2) [2020] FCA 1111 Niccol, in the matter of FLY365 Pty Ltd (in liq) [2020] FCA 1303 Re Ansett Australia Ltd (No 3) (2002) 115 FCR 409; [2002] FCA 90 Re Grocon Pty Ltd (admins apptd) (No 1) [2020] VSC 833 Strawbridge, in the matter of Virgin Australia Holdings Ltd (administrators appointed) (No 2) [2020] FCA 717