NSW Caselaw
New South Wales Supreme Court
CITATION : McLean v Elvapine Aberglasslyn Road Pty Ltd [2008] NSWSC 484
HEARING DATE(S) : 14 & 16 May 2008
JUDGMENT DATE : 16 May 2008
JURISDICTION : Equity
JUDGMENT OF : Austin J
DECISION : Order made granting approval under s 477(2B)
CATCHWORDS : CORPORATIONS - winding up - court's approval for liquidator to enter into agreement the term of which may end more than three months after the agreement is entered into - loan agreement for three months, with option for borrower to extend - purpose of loan to permit liquidator to discharge mortgage over company's property and complete acquisition of adjourning properties, so as to permit sale of all three properties together as a development project - evidence needed as to prospects for sale
LEGISLATION CITED : Corporations Act 2001 (Cth), s 477(2B)
Corporate Affairs Commission v ASC Timber Pty Ltd (1998) 29 ACSR 109 CASES CITED : Re Aslor Pty Ltd (1997) 24 ACSR 612 Re Spedley Securities Ltd (in liq) (1992) 9 ACSR 83 Stewart re Newtronics Pty Ltd [2007] FCA 1375
Judith Anne McLean (First Plaintiff) Elvapine 101 Pty Ltd (Second Plaintiff) PARTIES : Elvapine Aberglasslyn Road Pty Ltd (in liq)(First Defendant) Van Haren Investments Pty Ltd (Second Defendant) William Charles Van Haren (Third Defendant) Bradd Morelli (Applicant)
FILE NUMBER(S) : SC 1656/08
COUNSEL : Mr S Golledge (Applicant)
SOLICITORS : Bartier Perry (Applicant)
IN THE SUPREME COURT OF NEW SOUTH WALES EQUITY DIVISION CORPORATIONS LIST
AUSTIN J
FRIDAY 16 MAY 2008
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