Catchwords:
CORPORATIONS – liquidators – application for removal of – whether liquidator acted impartially and independently – where plaintiffs are the only major creditor – where plaintiffs’ claim is the subject of litigation – where liquidator valued the claim at one dollar for voting purposes – where liquidator admitted debts of the other two creditors before being provided with invoices – where plaintiffs were opposed to the Deed of Company Arrangement (DOCA) – where DOCA was approved on the votes of the other two creditors – consideration of principles on the removal of liquidator
CORPORATIONS – external administration – liquidation – whether company has passed into liquidation or remains in administration – where DOCA approved at creditors meeting – where DOCA is not prepared or executed because application is brought to remove liquidator – where company is deemed to pass into liquidation if DOCA is not executed within 15 days of being prepared – where ASIC Register shows the company to be in liquidation – where no application was made to amend the ASIC Register
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