The background to this matter related to the appointment of two receivers and managers to all the assets, property and undertaking of the applicant, The Presbyterian Church of Queensland (PCQ). The receivers sought to cause PCQ to enter into and complete a Sale and Purchase Agreement (SPA) with St Vincent’s Care Services in respect of three residential aged care businesses owned by PCQ.
The issue was whether the receivers were justified in taking all the necessary steps to enter into and cause the Applicant to enter into the SPA agreement. Brown J found that the receivers were justified in doing so as the three businesses were in poor financial positions under PCQ’s administration and thus it was in their best interest to enter the SPA.
Paul McQuade QC appeared for the Applicant, instructed by Neumann & Turnour.
Jaamae Hafeez-Baig (with A Pomerenke QC) appeared for the Receivers and Managers of the assets, property and undertaking of the Applicant, instructed by Allens.
The judgment is published here.