Apostolou v VA Corporation of Australia Pty Ltd

The dispute in Apostolou v VA Corporation of Australia Pty Ltd involves claims brought by Vasiliki Apostolou and Andrew Vasiliou against various respondents, including the former mortgagee of a property and the liquidators of VA Corporation. The primary claims are that the mortgagee, Perpetual Trustee Company Ltd, had no right to sell the property and sold it at an undervalue, and that the liquidators acted unreasonably in their handling of the winding up of VA Corporation. The court dismissed all of the applicants' claims, finding no legal basis for their complaints. The court found that Perpetual had properly exercised its power of sale and that there was no evidence of a breach of duty. Regarding the liquidators, the court held that they were justified in seeking court approval to sell the property due to legal uncertainties and the applicants' vigorous litigation history. The court also concluded that the liquidators were not obligated to facilitate a refinancing of the property, as the applicants' refusal to acknowledge certain debts made a reasonable restructuring impossible. The court dismissed the application with costs.