In the Matter of B.C.I Finances Pty Limited (In Liq)

In the case of B.C.I Finances Pty Limited (In Liq), the court was asked to review orders made by a Registrar that a corporation in the process of being wound up voluntarily by creditors should instead be wound up by the Court due to insolvency. The entity, Ligon 158, which sought this review, was not a party to the original proceeding and did not appear at the hearing where the Registrar made the orders in question. Ligon 158 argued that it should be joined as a party to the liquidators’ proceedings to allow it to bring an application for review of the Registrar’s order. It also sought for the court to review the Registrar’s order on its own motion.

The court had to determine whether it should review the Registrar’s orders despite Ligon 158 not being a party to the original proceeding. It also had to consider whether it should join Ligon 158 as a party to the liquidators’ proceedings for the purpose of allowing it to bring an application for review of the Registrar’s order, and whether it should undertake such a review on its own motion. The court found that it was not persuaded that there was reason for it to conduct such a review on its own motion. It found that Ligon 158’s application for relief under r 2.13 of the Corporations Rules would not be useful, given its previous views. Therefore, the court rejected all of the claims for relief made under or by reference to the Interlocutory Process filed by Ligon 158.

The court dismissed the Interlocutory Process filed by Ligon 158 and ordered that Ligon 158 pay the plaintiffs’ costs of and incidental to that Interlocutory Process as taxed or agreed.