NSW Caselaw
New South Wales Supreme Court
CITATION : Emerton Pty Ltd v Referral Marketing Services Pty Ltd & ors [2009] NSWSC 738
HEARING DATE(S) : 9 June 2009 JURISDICTION : Equity Division Corporations List
JUDGMENT OF : Brereton J
EX TEMPORE JUDGMENT DATE : 11 June 2009
DECISION : Second defendant's nominee appointed - no order as to costs
CATCHWORDS : CORPORATIONS - External administration – winding up – liquidator – removal and replacement - where current liquidators have indicated intention to resign upon appointment of new liquidator but no resignation tendered and no indication of specific date upon which resignation will take effect - where plaintiff claims current liquidator has not adequately investigated claims of breach of statutory and fiduciary duties by the second defendant director - Whether Court has power under (CTH) Corporations Act 2001 s 502 to appoint liquidator where liquidator has not yet ceased to act - Held: conditions for Court to exercise power under, s 502, not satisfied – Whether Court has power under (CTH) Corporations Act 2001, s 503, to appoint new liquidator - whether removal of current liquidator in the interest of the liquidation - Held: removal of current liquidators is in interest of liquidation - order that new liquidator be appointed - Whether plaintiff's nominee should be appointed as new liquidator - whether general rule that plaintiff's nominee is ordinarily appointed should be departed from - Held: plaintiff's nominee rejected - where appointment of plaintiff's nominee could be seen as acceding to pressure to appoint plaintiff's preferred nominee, rather than an impartial and appropriate liquidator
LEGISLATION CITED : (CTH) Corporations Act 2001 s 473(7), s 499, s499(5), s 502, s 503
We try to embed the page this law was scraped from. If the site blocks framing, you still get the link and a local excerpt.
Last checked with source on —
Checking whether the official page can be embedded…
Plain-English simplify of this law: a short summary, key points, and both sides of the argument. Generated on first view via Replicate, then cached. Vote on what helps your study.
No study brief is cached for this law yet. Sign up to generate a plain-English brief.
Sign up to generate