Delsana Holdings Pty Ltd, in the matter of Delsana Holdings Pty Ltd (in liq)

In the Federal Court of Australia, Giovanni Maurizio Carrello, as liquidator of Delsana Holdings Pty Ltd (in liquidation), sought leave to appoint himself as the administrator of the company, to dispense with the requirement to convene a meeting of creditors, and for the costs of the application to be costs in the voluntary administration of Delsana. The application was pursuant to sections 436B and 447A of the Corporations Act 2001 (Cth). The court was required to determine whether Mr Carrello was a suitable candidate for the role of administrator, and if it was in the best interests of the creditors for Delsana to enter voluntary administration rather than liquidation.

The court found that Mr Carrello, with over 20 years of experience in corporate recoveries and insolvency matters, was an appropriate person to be appointed as the administrator of Delsana. The court was satisfied that it was in the best interests of the creditors for Delsana to enter voluntary administration, as this would enable creditors to be paid in full and the company to be returned to its director in a solvent state. The court was also satisfied that this course was not only not contrary to the public interest, but in the public interest, as no creditor had expressed opposition to the application and those who had taken an active part had indicated support for it.

The court granted the application and ordered that Mr Carrello be appointed as the administrator of Delsana, that the requirement to convene a meeting of creditors be dispensed with, and that the costs of the application be costs in the voluntary administration of Delsana.