In March 2014, ERA Legal appeared in the Federal Court of Australia and obtained orders for the appointment of provisional liquidators to four companies (“the Elite group”) as a consequence of the directors of the Elite group abandoning the companies and going into hiding. In the absence of the controlling minds of the Elite group or anyone to manage the Elite group, Justice Jagot made orders appointing provisional liquidators.
In addition Justice Jagot made orders on 1 May 2014 appointing liquidators to three of the Elite group having being satisfied by the reports of the provisional liquidators that each of the companies was insolvent. The fourth company of the Elite group had a liquidator appointed in separate proceedings.
On 11 August 2014, ERA Legal appeared before her Honour to defend an application brought by the directors to set aside the orders of her Honour made on 1 May 2014 appointing liquidators to the three Elite group companies. That application was successfully defended and dismissed.
In addition to the winding up orders, ERA Legal has obtained freezing orders over all of the assets of the directors.
The judgment can be read here.
For more information on this judgment please contact Denise Wright.
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