The statutory derivative action under Part 2F.1A of the Corporations Act 2001 (Cth) is not available where a company is in administration, whether the administration commenced under s 436A or s 436C. The Court's inherent jurisdiction to grant leave to bring proceedings on behalf of a company in administration exists but will ordinarily not be exercised during the short duration of an administration pending a creditors' meeting. Applications by administrators for directions under s 90-15 of Schedule 2 must relate to proposed future action, not ratification of actions already taken. Courts will scrutinise assignments of a company's causes of action to entities related to the secured creditor who appointed the administrators, particularly where the appointment was for the collateral purpose of obtaining such an assignment.
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