Where a company in liquidation has an insurer conducting its defence and likely to meet any judgment, leave to proceed under s 500(2) of the Corporations Act 2001 (Cth) will generally be granted, as the presence of the insurer eliminates prejudice to creditors and the risk of fruitless proceedings.
The full text is available to signed-in members, including the 19 later cases that cite this judgment.
2 of the 19 citing cases carry a classified treatment. How each court treated it is available to signed-in members.