Hausmann v Smith

The case of Hausmann v Smith involved the plaintiff, who was a creditor of the company, suing the defendant, who was the liquidator of the company, regarding the sale of the company's business. The plaintiff alleged that the liquidator had failed to obtain the best possible price for the sale of the company's business, and that this constituted a breach of the liquidator's duty to obtain the best possible price. The matter was heard in the Supreme Court of New South Wales.

The court had to determine whether there was a serious question to be tried in relation to the liquidator's duty to obtain the best possible price for the sale of the company's business. The court also had to consider the balance of convenience in relation to the granting of an interlocutory injunction sought by the plaintiff. The court considered whether the liquidator owed a duty to obtain the best possible price to the company, its creditors, or its shareholders, and whether there had been a breach of such a duty.

The court held that there was no duty on the liquidator to obtain the best possible price for the sale of the company's business, and that there was no basis on which to grant an interlocutory injunction. The court found that the liquidator had not breached any duty owed to the company, its creditors, or its shareholders in relation to the sale of the company's business. The court held that the liquidator had acted in accordance with the relevant statutory provisions and had not acted recklessly or negligently.

The court found that the liquidator had not acted in a way that was oppressive or unfair to any party, and that there was no serious question to be tried in relation to the liquidator's duty to obtain the best possible price. The court also held that the balance of convenience did not favour the granting of an interlocutory injunction. The court dismissed the plaintiff's application for an interlocutory injunction, and ordered that the plaintiff pay the defendant's costs of the proceeding.