ACN 004 410 833 Ltd (formerly Arrium Limited) (in liq) v Michael Thomas Walton

[2020] NSWCA 157

NSW Court of Appeal

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Interrogate

Catchwords

1. Corporations
2. › Winding up
3. › Public examinations of directors, officers and others
4. › Application to set aside summons to attend court and be examined
5. › Whether purpose for which examination sought was foreign to purpose for which powers to order examination and production of documents were conferred
6. › Whether abuse of process
7. › Corporations Act 2001 (Cth), ss 596A, 596B, 597

Quick Take

Practitioners seeking examination orders under s 596A on behalf of eligible applicants who are shareholders or creditors must demonstrate that the examination could confer a demonstrable benefit on the company, its creditors or contributories, and cannot rely solely on the theoretical possibility that information of benefit might emerge.