MARK ANTHONY KORDA and DAVID JOHN WINTERBOTTOM As Receivers and Managers of WESTPOINT CORPORATION PTY LTD (In Liq) (Receivers and Managers Appointed) and the companies listed in Schedule 1 v SILKCHIME PTY LTD (Receivers and Managers Appointed) atf SILKCHIME UNIT TRUST

• 1. Corporations
  2. › Receivers and managers
  3. › Directions under s 424 Corporations Act 2001 (Cth)
  4. › Scope of power to give directions
  5. › Whether directions bind third parties
  6. › Whether court may determine substantive rights in directions proceedings
• 1. Corporations
  2. › Receivers and managers
  3. › Floating charge
  4. › Priority creditors
  5. › Obligation under s 433 Corporations Act 2001 (Cth)
  6. › Whether receiver obliged to realise floating charge assets consisting of causes of action to pay priority creditors
  7. › Whether obligation extends beyond property already in receiver's hands
  8. › Corporations Act 2001 (Cth), s 433
• 1. Corporations
  2. › Receivers and managers
  3. › Retirement of receiver
  4. › Whether receiver obliged to retire when principal debt substantially repaid
  5. › Pending litigation against receiver
  6. › Right to maintain retention fund for defence costs
• 1. Corporations
  2. › Receivers and managers
  3. › Retention fund
  4. › Right of receiver to retain fund against costs of defending litigation
  5. › Analogy with mortgagee's right to retain costs of contested accounts

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