Jet Midwest, Inc. v Regional Express Holdings Limited trading as Regional Express Airlines (Administrators Appointed) [2024] NSWSC 1343

Supreme Court New South Wales

Medium Neutral Citation: Jet Midwest, Inc. v Regional Express Holdings Limited trading as Regional Express Airlines (Administrators Appointed) [2024] NSWSC 1343 Hearing dates: 18 October 2024 Date of orders: 25 October 2024 Decision date: 25 October 2024 Jurisdiction: Equity - Commercial List Before: Stevenson J Decision: Leave to proceed under s 440D of the Corporations Act 2001 (Cth) refused Catchwords: CORPORATIONS – voluntary administration – legal proceedings – moratorium on legal proceedings against company under administration – defendant apparently in possession of property which is subject to sale agreement – defendant failed to pay balance of purchase price under the sale agreement – defendant now in administration – plaintiff seeks leave to proceed pursuant to section 440D of the Corporations Act 2001 (Cth) for breach of contract for sale and for delivery up of its property – where administrators proposing to move under section 442C for leave to dispose of the property – leave under section 440D refused Legislation Cited: Corporations Act 2001 (Cth) Cases Cited: Hill v Esplanade Wollongong Pty Ltd ACN 141 133 708 (subject to a deed of company arrangement) [2018] NSWSC 478 Larkden Pty Limited v Lloyd Energy Systems Pty Limited [2011] NSWSC 1305 Rialto Sports Pty Limited v Cancer Care Associates Pty Limited; CCA Estates Pty Limited; Davjul Holdings Pty Limited; Armmam Pty Limited (No 2) [2023] NSWCA 246 Category: Procedural rulings Parties: Jet Midwest, Inc (Plaintiff/Applicant) Regional Express Holdings Limited trading as Regional Express Airlines (Administrators Appointed) (Defendant/Respondent) Representation: Counsel: P Knowles SC / H Cooper (Plaintiff/Applicant) M Izzo SC / D Krochmalik (Defendant/Respondent)