This proceeding concerned whether the Court should make orders terminating the administration of a company under s.447A of the Corporations Act 2001 (Cth). The principal applicant was a shareholder who contended, among other things, that the company had been placed into administration by its sole director for an improper purpose. The Court accepted that the director had placed the company into administration for an improper purpose. However, the Court exercised its discretion so as not to terminate the administration, having regard to doubts about the solvency of the company, among other factors.
Stewart Webster (and J K Carter) appeared for the applicant on both occasions, instructed by James Conomos Lawyers.
Mark Eade appeared for the first and third respondent, instructed by Rose Litigation.
The judgment is available here.