Voluntary administrators frequently obtain Court orders permitting notices to be issued to creditors electronically. Such orders are made under section 447A of the Corporations Act (the Act) on grounds of efficiency, cost and necessity. See Mothercare Australia Ltd (Administrators Appointed) [2013] NSWSC 263 and Creative Memories Australia Pty Ltd [2013] NSWSC 1294.
Australia, New South Wales, Insolvency & Restructuring, Litigation, Addisons, Liquidation, Liquidator (law), Automated Clearing House
Introduction
The Full Court of the Federal Court of Australia has rejected an argument that the applicant for an order for a company to be wound in insolvency must prove that the company was insolvent at the "relation-back day" in addition to proving insolvency at the date of filing the application and the date of the hearing.
Australia, Insolvency & Restructuring, Litigation, Addisons, Liquidation, Federal Court of Australia