In the matter of First Debenture Limited [2015] NSWSC 1808

Supreme Court New South Wales

Medium Neutral Citation: In the matter of First Debenture Limited [2015] NSWSC 1808 Hearing dates: 11 September 2015 Date of orders: 11 September 2015 Decision date: 11 September 2015 Jurisdiction: Equity - Corporations List Before: Brereton J Decision: Administration declared to have ended; interlocutory process dismissed. Catchwords: CORPORATIONS – voluntary administration – where appointment of provisional liquidator brought administration to an end – application for orders under (CTH) Corporations Act 2001, s 447A, that Pt 5.3A applies such that appointment of provisional liquidator did not operate to bring administration to an end – whether administration should be revived – whether unnecessary duplication of work should provisional liquidator take over – whether revival of administration preserves right of creditors to decide – whether administrators exposed to personal liability in liquidation – held, insufficient reasons to revive administration. Legislation Cited: (CTH) Corporations Act 2001, s 435C(1), s 435C(2), s 435C(3), s 436A, s 439A(6), s 447A, Pt 5.3A Cases Cited: Australasian Memory Pty Limited v Brien [2000] HCA 30; (2000) 200 CLR 270 Re Rildean Pty Ltd; Ex parte TJF Scaffolding Maintenance and Hire Pty Ltd [2002] NSWSC 631 Category: Procedural and other rulings Parties: James Photios (plaintiff) Michael Charles Unicomb (first defendant) Jeffrey Douglas Dawson (second defendant) Cuneyt Kilicoglu (third defendant) William Paul Cotter and William Roland Robson (fourth defendants) First Debenture Ltd (administrator appointed) (provisional liquidator appointed) (ACN 105 577 017) (fifth defendant) Representation: Counsel: A Friedlander (solicitor) (plaintiff) T Orlizki (solicitor) (second defendant) S Burchett (applicant/administrators) P Harkin (solicitor) (provisional liquidator)