NSW Caselaw
New South Wales Supreme Court
CITATION : Application of Fincorp Group Holdings Pty Ltd (adm apptd) [2007] NSWSC 628
HEARING DATE(S) : 17/05/07
JUDGMENT DATE : 17 May 2007
JURISDICTION : Equity Division Corporations List
JUDGMENT OF : White J
EX TEMPORE JUDGMENT DATE : 17 May 2007
DECISION : See paragraphs 18-21 of judgment.
CATCHWORDS : CORPORATIONS – Administrators – Application by administrators for order as to operation of Part 5.3A of the Corporations Act 2001 (Cth) – Administrator incurring debt by borrowing not entitled to indemnity under s 443A of the Corporations Act – Order that Part 5.3A amended so that administrators personally liable for loan taken out by first plaintiff and entitled to indemnity under s 443D – Application for directions that administrators may properly and justifiably enter into agreements providing cross-collateral security from companies within group – Where provision of loan facility is a desirable step for administration of group of companies and is in the interests of creditors – Order that administrators are justified in entering into deeds of agreement and guarantee. - (CTH) Corporations Act 2001, ss 443A, 443D, 447A(1)
LEGISLATION CITED : Corporations Act 2001 (Cth)
CASES CITED : Re Ansett Australia Limited & Ors v Mentha (2002) 40 ACSR 389 Re Spy Glass Management Group Pty Limited v Mentha (2004) 51 ACSR 432
PARTIES : Application of Fincorp Group Holdings Pty Ltd (administrator appointed)
FILE NUMBER(S) : SC 2766/07
COUNSEL : Applicants: A Leopold
SOLICITORS : Applicants: Henry Davis York
IN THE SUPREME COURT OF NEW SOUTH WALES EQUITY DIVISION CORPORATIONS LIST
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