In the matter of Octaviar Administration Pty Ltd (in liq) [2015] NSWSC 516

Supreme Court New South Wales

Medium Neutral Citation: In the matter of Octaviar Administration Pty Ltd (in liq) [2015] NSWSC 516 Hearing dates: 30 April 2015 Decision date: 30 April 2015 Jurisdiction: Equity Division - Corporations List Before: Stevenson J Decision: Direction that special purpose liquidator justified in accepting offer to compromise Queensland proceedings Catchwords: CORPORATIONS – external administration – liquidation – special purpose liquidator – application for directions under Corporations Act s 479(3) – whether special purpose liquidator justified in accepting an offer to settle proceedings Legislation Cited: Corporations Act 2001 (Cth) Cases Cited: Fletcher and Barnet, in the matter of Octaviar Limited (Receivers and Managers Appointed) (in liq) and Octaviar Administration Pty Ltd (in liq) [2011] FCA 132 Fortress Credit Corporation (Australia) II Pty Ltd v Fletcher [2011] FCAFC 89 Fortress Credit Corporation (Australia) II Pty Ltd v Fletcher & Barnet [2015] NSWCA 85 In the matter of Great Southern Managers Australia Limited (in liq) (Supreme Court (Vic), Croft J, 17 December 2014, unrep) In the matter of Octaviar Limited (Receivers and Managers Appointed) (in liq) and Octaviar Administration Pty Ltd (in liq) [2012] NSWSC 299 In the matter of One.Tel Limited [2014] NSWSC 457 Re Great Southern Managers Australia Ltd (in liq) [2014] WASC 312 Category: Principal judgment Parties: David John Kerr (Applicant) William John Fletcher and Katherine Elizabeth Barnet (First Plaintiff) Octaviar Limited (Receivers and Managers Appointed) (in liq) (Second Plaintiff) Octaviar Administration Pty Ltd (in liq) (Third Plaintiff) Representation: Counsel: M Oakes SC with S Golledge (Applicant) J K Taylor (First and Third Plaintiffs)