NSW Caselaw
Reported Decision : (2003) 46 ACSR 98
New South Wales Supreme Court
CITATION : Re United Medical Protection; application of Lombe [2003] NSWSC 237 HEARING DATE(S) : 27 March 2003 JUDGMENT DATE : 31 March 2003 JURISDICTION: Equity JUDGMENT OF : Austin J DECISION : Orders made granting approval and giving directions, as sought by provisional liquidator
CATCHWORDS : CORPORATIONS - provisional liquidation - medical defence organisation makes "call" on members before provisional liquidator is appointed - provisional liquidator negotiates compromises of company's claims for call, and payment agreements to be discharged by performance more than three months after entered into - whether Court should approve under ss 477(2A) and (2B) - whether Court should give directions that provisional liquidator would be justified in acting as proposed LEGISLATION CITED : Corporations Act 2001 (Cth) ss 472(5), 477(2A), 477(2B), 479(3) Re Ansett Australia Ltd and Korda (No 3) (2002) 115 FCR 409 Re Aslor Pty Ltd (in liq) (1997) 24 ACSR 612 CASES CITED : Re G & A Listing & Maintenance Pty Ltd (1994) 15 ACSR 308 Re Spedley Securities Ltd (in liq) (1992) 9 ACSR 83 Re United Medical Protection Ltd (2002) 41 ACSR 623 PARTIES : David John Frank Lombe as provisional liquidator of United Medical Protection Ltd (A) FILE NUMBER(S) : SC 2545/02 COUNSEL : J T Gleeson SC with R Dick and M Darke (A) SOLICITORS : Freehills (A)
IN THE SUPREME COURT OF NEW SOUTH WALES EQUITY DIVISION
AUSTIN J
MONDAY 31 MARCH 2003
2545/02 IN THE MATTER OF UNITED MEDICAL PROTECTION LTD; APPLICATION OF LOMBE JUDGMENT HIS HONOUR:
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