Sule Arnautovic and John Kukulovski [2009] NSWSC 1444

New South Wales Supreme Court

CITATION : Sule Arnautovic and John Kukulovski [2009] NSWSC 1444

HEARING DATE(S) : 12 October 2009 JUDGMENT OF : Hammerschlag J

EX TEMPORE JUDGMENT DATE : 12 October 2009

Pursuant to s 447A(1) of the Corporations Act 2001, Part 5.3A is henceforth to operate in relation to: (a) Freepeople Investments Pty Limited ACN 131 730 777; (b) Freepeople Clothing Pty Limited ACN 131 730 820; (c) Freepeople Wholesale Pty Limited ACN 131 730 955; DECISION : (d) No Substitute Pty Limited ACN 070 047 666; (e) Under Cover Pty Limited ACN 068 403 681; (collectively "the companies") as if the resolutions purportedly adopted by Neeru Anand on 16 September 2009 as director of the companies were valid resolutions under s 436A and as if the plaintiffs' appointments pursuant to those resolutions were valid appointments of them as voluntary administrators of the companies. Pursuant to s 447A(1), the costs incurred by the plaintiffs with respect to the administrations of the affairs of the Companies in the period from 16 September 2009 until today be costs in the voluntary administrations of the companies.

CATCHWORDS : CORPORATIONS - voluntary administration – sole director of a group of companies who became disqualified from managing corporations under s 206B(4) of the Corporations Act 2001 (Cth) ("the Act") and consequently ceased to be a director of any of the companies, then purported, as director, to appoint the plaintiffs as voluntary administrators of the companies – plaintiffs applied to the Court to validate their appointment as administrators – held that under s 447A(1) of the Act the Court has the power to order that Pt 5.3A of the Act could henceforth operate in relation to the companies, as if the plaintiffs' appointment as voluntary administrators of the companies should be validated