In the matter of 7 Steel Distribution Pty Limited (in liquidation) (receivers and managers appointed)

[2013] NSWSC 669

Supreme Court of NSW

Built by Barristers,
For Australian Law.

1. CORPORATIONS - winding up - liquidators - order sought for authorisation for liquidators to enter into funding agreement - order sought approving retainment of solicitors for the liquidators - whether intervening creditors entitled to be heard in respect of the application in their capacity only as creditors - whether entry into funding agreement is a proper exercise of the liquidators' power.
1. CORPORATIONS - winding up - liquidators - application for judicial advice under s 511 Corporations Act 2001 (Cth) - whether direction would be of advantage in the liquidation - whether utility to such a direction - whether such a direction could potentially displace the need for liquidators to exercise their commercial judgment.