ATSIC v Jurnkurakurr Aboriginal Resource Centre Aboriginal Corporation (In liquidation)

(1992) 10 ACSR 121; [1992] NTSC 39

Supreme Court of the Northern Territory

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Catchwords

1. Corporations
2. › Winding up
3. › Liquidator
4. › Removal of liquidator
5. › Cause shown
6. › Appearance of partiality or conflict of duty
7. › Liquidator's firm having business relationship with major creditor
8. › Whether sufficient to justify removal
9. › Corporations Act 1990 (Cth), s 473(1)
1. Corporations
2. › Winding up
3. › Liquidator
4. › Appointment
5. › Validation of irregular appointment
6. › Failure to obtain leave under s 532(2)
7. › Corporations Act 1990 (Cth), ss 532(2), 1322(iv)(a)
1. Corporations
2. › Winding up
3. › Liquidator
4. › Independence and impartiality
5. › Liquidator must both be and appear to be independent and impartial of creditors
6. › Same standard applied to removal as to appointment

Quick Take

A liquidator whose firm has an ongoing business relationship with a major creditor may be removed under s 473(1) on the ground of appearance of partiality or conflict of duty, even where no criticism is made of the liquidator's character or competence and the winding up has proceeded some distance. The possibility that the liquidator may need to re-examine his own firm's work or investigate his firm's negligence is a significant factor supporting removal.

Case Details

Citation[1992] NTSC 39

Reported(1992) 10 ACSR 121

CourtNTSC

JurisdictionNorthern Territory

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