In the matter of Systems Advisers Group Pty Ltd (administrators appointed) [2013] NSWSC 826

Supreme Court New South Wales

Medium Neutral Citation: In the matter of Systems Advisers Group Pty Ltd (administrators appointed) [2013] NSWSC 826 Hearing dates: 7 June 2013 Decision date: 07 June 2013 Jurisdiction: Equity Division - Corporations List Before: Black J Decision: Orders made modifying the operation of s 433A Corporations Act 2001 (Cth). Catchwords: CORPORATIONS - management and administration - orders sought for modification of operation of s 443A Corporations Act 2001 (Cth) to provide that monies advanced by loan be treated as debts incurred by the administrators in the exercise of their functions, and for limitation of plaintiff's and administrator's personal liability - whether interests of company's creditors best served by administrators actions - whether creditors of the company are prejudiced or disadvantaged by the types of orders sought Legislation Cited: Corporations Act 2001 (Cth) ss 443A, 443A(1), 443A(1)(d)-(f), 443A(2), 443D, 447A, 447A(1), 447D, 556, 560 Cases Cited: - Mentha Re Griffin Coal Mining Company Pty Ltd (admins apptd) [2010] FCA 1469; (2010) 82 ACSR 142 - Re Gould Bros & Co Pty Ltd (admins apptd) [2012] FCA 285 - Re Great Southern Infrastructure Pty Ltd; Ex parte Jones [2009] WASC 161 - Re Spyglass Management Group Pty Ltd (admin apptd) [2004] FCA 1469; (2004) 51 ACSR 432 - Secatore, in the matter of Fletcher Jones and Staff Pty Ltd (admin app) [2011] FCA 1493 Category: Interlocutory applications Parties: Simon John Cathro and Philip Campbell-Wilson as joint and several voluntary administrators of Systems Advisers Group Pty Ltd (administrators appointed) (Plaintiffs) Representation: Counsel: F. Assaf (Plaintiffs) Solicitors: Sparke Helmore (Plaintiffs) File Number(s): 2013/174083