An ex parte interlocutory application seeking orders as to whether the applicant was justified in settling proceedings on agreed terms of settlement. Mr Whyte was appointed, by order of the Supreme Court of Queensland under the Corporations Act 2001 (Cth), responsibility for winding up LM First Mortgage Income Fund and as receiver of the Fund property. The Terms of settlement were agreed upon in mediation by the parties.
Shane Doyle QC (with D Ananian-Cooper and N Derrington) acted on behalf of the applicant, instructed by Gadens, and successfully obtained an order from Justice Kelly confirming Mr Whyte is, in fact, justified to settle proceedings as per the agreed Terms of Settlement. Consequently, Mr Whyte was justified in causing LMIM, as the Fund’s responsible entity, to enter and perform the Terms of Settlement.
The judgment is published here.