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Australia voluntary administrationdeed of company arrangementadministrators duties

Kirwan v Cresvale Far East Ltd (in liq)

Kirwan v Cresvale Far East Ltd (in liq) [2002] NSWCA 395; (2002) 44 ACSR 21
JurisdictionAustralia
CourtSupreme Court of New South Wales, Court of Appeal
Year2002
StatusBinding authority

Key Principle

A voluntary administrator owes obligations of honesty, impartiality and proper disclosure to creditors, and the court's power to review a creditors' resolution (including one carried on the administrator's casting vote) in a Part 5.3A administration is not confined to whether the administrator acted honestly but extends to reviewing the propriety of the exercise of the casting vote in respect of a deed of company arrangement.

Area of Law

insolvency

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