In the matter of Live Board Holdings Limited (Administrators Appointed) [2014] NSWSC 161

Supreme Court New South Wales

Medium Neutral Citation: In the matter of Live Board Holdings Limited (Administrators Appointed) [2014] NSWSC 161 Hearing dates: 28 February 2014 Decision date: 03 March 2014 Jurisdiction: Equity Division - Corporations List Before: Brereton J Decision: Plaintiffs to bring in short minutes Catchwords: CORPORATIONS - external administration - administration - validity of appointment of administrators - application for declaration of validity under s 447C - whether appointment invalid by reason of exclusion of an alleged director from s 436A meeting - whether opinion as to insolvency genuinely held - if not, whether appointment should be validated under s 447A CORPORATIONS - external administration - administration - supervision of administrators - whether proposed acts prejudicial within s 447E Legislation Cited: (CTH) Corporations Act 2001, s 254E, s 436A, s 447A, s 447C, s 447E Cases Cited: Aloridge Pty Ltd v Christianos (1994) 12 ACLC 237 Alpha Resources Ltd v Corporate Affairs Commission (NSW) (1987) 12 ACLR 51 Arnautovic v Kukulovski [2009] NSWSC 1444 Australasian Memory Pty Ltd v Brien (2000) 200 CLR 270 Calabretta v Redpen Developments Pty Ltd (in liq) (recs and mgrs apptd) [2010] FCA 81; (2010) 183 FCR 47 Celtic Capital Pty Ltd v Cityview Corporation Ltd [2010] WASC 357 Cody v Live Board Holdings Limited [2014] NSWSC 78 Deputy Commissioner of Taxation v Portinex Pty Ltd (subject to DOCA) [2000] NSWSC 99; (2000) 156 FLR 453; 34 ACSR 391 Honest Remark Pty Ltd v Allstate Explorations NL [2006] NSWSC 735; (2006) 58 ACSR 234 Cawthorn v Keira Constructions Pty Ltd (1994) 33 NSWLR 607; 13 ACSR 337; 12 ACLC 396 Kokotovich Constructions Pty Ltd v Wallington (1995) 17 ACSR 478; 13 ACLC 1113 Panasystems Pty Ltd v Voodoo Tech Pty Ltd [2003] FCA 428; (2003) 21 ACLC 842 Re Carpenter Pacific Resources NL (1997) 25 ACSR 754 Re Darin (as administrators of Palamedia Ltd) [2010] NSWSC 451 Re Farnell Electronic Components Pty Ltd (1997) 25 ACSR 345 Re HPI Australia Pty Ltd [2008] NSWSC 1106 Re Onslow Salt Pty Ltd [2003] FCA 429; (2003) 198 ALR 344; 45 ACSR 322 Re Pan Pharmaceuticals Ltd (admins apptd); Selim v McGrath [2003] FCA 855; (2003) 47 ACSR 139 Re Pasdonnay Pty Ltd (2005) 53 ACSR 717 Re Wood Parsons Pty Ltd (in liq) [2002] NSWSC 1058; (2002) 43 ACSR 257 Townsend & Parker Gravity Die Casting Pty Ltd v Lotusdale Pty Ltd [1997] 1 VR 295 Category: Interlocutory applications Parties: Justin Holzman and Manfred Holzman in their capacity as joint and several administrators of Live Board Holdings Limited (plaintiffs) Live Board Holdings Limited (Administrators Appointed) (defendant) Pier Blue Pty Ltd (first applicant) Costa Koulis (second applicant) Representation: Ms J Shepard (plaintiffs/respondents) Mr L Menzies (applicants) Solicitors: Bridges Lawyers (plaintiffs/respondents) Teddington Legal (applicants) File Number(s): 14/ 57817