In the Matter of Globaltech Corporation Pty Ltd (Administrators Appointed) [No 2]

The applicants, Gordon Henderson Stewart and Rhoda Stewart as trustees of The Grampian Trust, brought an application against the administrators of Globaltech Corporation Pty Ltd, alleging that the administrators were not independent and impartial as required by law. The applicants sought to have the orders made by the administrators on 24 May 2024, which limited the administrators' personal liability under a funding deed, vacated. They also sought the removal of the administrators and the appointment of new administrators from the firm Cor Cordis, along with personal costs. The applicants argued that the administrators were not free from apprehended bias due to their prior roles with the parent company of the majority shareholder of Globaltech, which also claimed to be significant creditors.

The court had to determine whether the administrators were indeed biased and if the orders made on 24 May 2024 should be vacated. The court also needed to decide if the applicants had a sufficient interest to warrant the removal of the administrators and the appointment of new administrators. Furthermore, the court had to consider whether the applicants were best served, prejudiced, or disadvantaged by the orders sought, and if the application to limit personal liability was appropriate.

The court found that the administrators were not biased and that the orders made on 24 May 2024 should not be vacated. The applicants did not demonstrate a sufficient interest to warrant the removal of the administrators and the appointment of new administrators. The court held that the applicants were not best served, prejudiced, or disadvantaged by the orders sought, and that the application to limit personal liability was appropriate given the circumstances. Consequently, the court dismissed the application.