Perovich & Anor v ASIC

[2005] QCA 456

Queensland Court of Appeal

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Interrogate

Catchwords

1. Corporations
2. › Winding up
3. › Conduct and incidents of liquidation
4. › Stay of proceedings
5. › Whether Court of Appeal has power to stay winding up order where leave to appeal not yet granted
6. › Uniform Civil Procedure Rules 1999 (Qld), r 761(2)
1. Corporations
2. › Winding up
3. › Conduct and incidents of liquidation
4. › Powers of officers during winding up
5. › Whether directors have authority to put company in motion to appeal against winding up order
6. › Whether court approval should be granted under s 471A(1)(d)
7. › Corporations Act 2001 (Cth), s 471A
1. Corporations
2. › Winding up
3. › Procedure
4. › Whether single order can wind up two companies
5. › Whether irregularity renders order a nullity
1. Corporations
2. › Winding up
3. › Insolvency
4. › Presumption of insolvency
5. › Appointment of receiver under floating charge
6. › Corporations Act 2001 (Cth), s 459C(2)(c)

Quick Take

Directors of a company being wound up in insolvency cannot put the company in motion to appeal the winding up order without first obtaining court approval under s 471A(1)(d) of the Corporations Act 2001 (Cth). The former implied power recognised in Re Diamond Fuel Co has been displaced by s 471A. A stay under Rule 761(2) UCPR is not available where leave to appeal has not yet been granted.