Re United Medical Protection & ors (No.3) [2002] NSWSC 488

Reported Decision : (2002) 20 ACLC 1223

New South Wales Supreme Court

CITATION : Re United Medical Protection & ors (No.3) [2002] NSWSC 488 CURRENT JURISDICTION: Equity FILE NUMBER(S) : SC 2545/02, 2543/02 HEARING DATE(S) : 24 May 2002 JUDGMENT DATE : 24 May 2002

2545/02 United Medical Protection Ltd (Applicant) Commonwealth of Australia (appearing by leave, though not a party) PARTIES : 2543/02 Australasian Medical Insurance Ltd (Applicant) Commonwealth of Australia (appearing by leave, though not a party) JUDGMENT OF : Austin J

Mr S Donaldson SC with Mr M J Dawson (Applicant) COUNSEL : Mr J E Marshall (Commonwealth of Australia) Mr S G Finch SC with Mr F Gleeson (amicus curiae) SOLICITORS : Tress Cox & Maddox (Applicants) CATCHWORDS : CORPORATIONS - provisional liquidation - application by provisional liquidator for approval of rescue arrangements and for directions - relevant consideration LEGISLATION CITED : Corporations Act 2001 (Cth) ss 9, 472(5), 472(6), 479(3) Bastion v Gideon Investments Pty Ltd (2000) 35 ACSR 466 Newmont Pty Ltd v Laverton Nickel NL [1978] 2 NSWLR 325 Re FAI General Insurance Co Ltd [2001] NSWSC 882 (26 September 2001) Re G B Nathan & Co Pty Ltd (1991) 24 NSWLR 674 CASES CITED : Re HIH Casually & General Insurance Ltd [2001] NSWSC 1186 (19 December 2001) Re HIH Insurance Ltd [2001] NSWSC 308 (23 April 2001) Re HIH Overseas Holdings Ltd [2001] NSWSC 426 (16 May 2001) Re PR Clark Holdings Pty Ltd (1977) 2 ACLR 416 Re Rothwells Ltd [1990] 2 Qd R 181 Registrar of Aboriginal Corporations v Bibelmen Mia Aboriginal Corporation [2001] FCA 136 (23 February 2001) DECISION : Approval and directions given