One T Development Pty Ltd v Peter Krejci in his capacity as liquidator of ENA Development Pty Ltd

The appeal concerned an application by One T Development Pty Ltd against Peter Krejci, the liquidator of ENA Development Pty Ltd. The dispute centred on whether the liquidator was justified in proceeding on the basis that certain company assets were not held on trust. The matter was heard in the Court of Appeal of New South Wales.

The primary legal issue before the Court of Appeal was the scope and nature of the power conferred upon a liquidator by s 90-15 of Schedule 2 to the *Corporations Act 2001* (Cth), particularly in relation to determining whether company assets were held on trust. The court also had to consider whether the liquidator had made errors in evaluating the evidence presented.

The Court of Appeal dismissed the appeal, finding that the liquidator had acted appropriately. The court reasoned that the liquidator’s power under s 90-15 was broad enough to permit him to proceed on the basis that the assets were not held on trust, absent clear evidence to the contrary. The court found no errors in the liquidator's evaluation of the evidence that would warrant interference with his decision. The appeal was dismissed with costs, with costs after the hearing of the appeal to be on the indemnity basis, subject to any application for a different costs order.