Krejci, in the matter of Greatcell Solar Limited (in liquidation) [2024] FCA 1121

Federal Court of Australia

Krejci, in the matter of Greatcell Solar Limited (in liquidation) [2024] FCA 1121 File number: NSD 1481 of 2023

Judgment of: YATES J

Date of judgment: 20 September 2024

Catchwords: CORPORATIONS – application by liquidators pursuant to section 477(2B) of the Corporations Act 2001 (Cth) for approval to enter into funding agreement and costs agreement – whether approval should be given retrospectively to enter into funding agreement

Legislation: Corporations Act 2001 (Cth) ss 477(2B) and 556 Federal Court of Australia Act 1976 (Cth) s 37AF

Cases cited: Deputy Commissioner of Taxation, in the matter of Italian Prestige Jewellery Pty Limited (in liq) v Italian Prestige Jewellery Pty Limited [2018] FCA 983; 129 ACSR 115 Empire (Aust) Nominees Pty Ltd v Vince [2000] VSC 324; 35 ACLC 167 Goyal, in the matter of Tiaro Coal Limited (In Liquidation) [2017] FCA 1252 Krejci, in the matter of Greatcell Solar Limited (in liq) [2022] FCA 67 Re Spedley Securities Ltd (in liq) (1992) 9 ACSR 8 Stewart, in the matter of Newtronics Pty Ltd [2007] FCA 1375

Division: General Division

Registry: New South Wales

National Practice Area: Commercial and Corporations

Sub-area: Corporations and Corporate Insolvency

Number of paragraphs: 33

Date of hearing: 11 September and 20 September 2024

Counsel for the Plaintiffs: Mr M Rose

Solicitor for the Plaintiffs: Colin Biggers & Paisley

ORDERS 1481 of 2023 IN THE MATTER OF GREATCELL SOLAR LIMITED (IN LIQUIDATION) (ACN 111 723 883) AND GREATCELL SOLAR AUSTRALIA PTY LTD (IN LIQUIDATION) (ACN 131 374 064) PETER KREJCI AND ANDREW CUMMINS IN THEIR CAPACITY AS JOINT AND SEVERAL LIQUIATORS OF GREATCELL SOLAR LIMITED (IN LIQUIDATION) (ACN 111 723 883) AND GREATCELL SOLAR AUSTRALIA PTY LTD (IN LIQUIDATION) (ACN 131 374 064) Plaintiffs