The Court granted relief under s 576-1(2) of the CATSI Act excusing special administrators from liability for potential breaches of duty arising from acting for both the transferor and transferee corporations in a solvent demerger, finding they had acted honestly and the demerger was supported by all relevant parties. The Court refused to make a declaration under s 609-1 of the CATSI Act that the administrators had acted in good faith and were protected from liability, holding that absent any contradictor or opposing party the declaration was purely hypothetical and produced no foreseeable consequences, particularly given the finding of honesty under s 576-1 would support reliance on the s 609-1 statutory immunity in any future proceedings. The Court noted that ORIC was not a proper contradictor for s 609-1 purposes because the statutory bar extends to the Registrar's own conduct and ORIC was not a party affected by the demerger.
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