2014 – Case reviews

February

Promoseven Pty Ltd v Prime Project Development (Cairns) Pty Ltd (Subject to a Deed of Company Arrangement) [2013] QCA 405 – when will a DOCA be terminated under s 445D on the grounds of commercial morality – questionable related-party dealings by a company prior to administration regarded as so suspect that the public interest in investigation and scrutiny outweighs the decision of creditors to approve a DOCA and the chance that creditors may fare no better under a liquidation

Australian Building Systems Pty Ltd v Commissioner of Taxation [2014] FCA 116 – liability of liquidator’s upon disposal of company asset to retain funds to meet CGT liability

March

ASIC v Franklin (liquidator), in the matter of Walton Construction Pty Ltd (in liquidation) [2014] FCA 68 – application by ASIC for removal of liquidators due to an apprehension of a lack of independence and impartiality under s 503; declaration sought by ASIC that the disclosures in the DIRRI were deficient and thus the liquidators had contravened s 436DA – appeal lodged by ASIC

April

Re Mischel & Co Pty Ltd (in liquidation) [2014] VSC 140; (2014) 284 FLR 320 – liquidators’ applications under s 483(1) for delivery up of company property – scope of power under s 483(1)

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