IPT Ssystems Ltd v MTIC Corporate Pty Ltd (Administrator Appointed)
158 FLR 349[2000] WASC 316
Between: IPT Ssystems Ltd
And: MTIC Corporate Pty Ltd
Judge:
Owen J
Subject References:
Corporations
Corporate Finance
Arrangements and reconstructions
Unregistered charges by subsidiary in favour of holding company
Replaced by new charges which were duly registered
Voluntary administrators appointed to subsidiary within 6 months
Whether holding company could appoint receiver
Whether holding company a 'relevant person' under s 267
Whether holding company acting in concert with a director of subsidiary so as to be an associate of the director
Legislative References:
Corporations Law - s 11; s 15(1)(a); s 267(1); s 267(7); s 441A
Case References:
Bans Pty Ltd v Ling - (1995) 16 ACSR 404
Deputy Commissioner for Corporate Affairs v Caratti - (1980) 5 ACLR 119
Dunn v Shapowloff - (1978) 3 ACLR 775
Re Monolithic Building Co; Tacon v Monolithic Building Co - (1915) 1 Ch 643
Re RHD Power Services Pty Ltd - (1990) 3 ACSR 261
Williams v NCSC; Lockyer v NCSC - (1990) 2 ACSR 131
Zytan Nominees Pty Ltd v Laverton Gold NL - (1989) 7 ACLC 150
Judgment date: 12 December 2000
RESULT
Declaration that plaintiff not a relevant person