The Public Trustee of Queensland v Octaviar Investment Notes Ltd
[2008] QSC 270
•12 September 2008
[2008] QSC 270
SUPREME COURT OF QUEENSLAND
CIVIL JURISDICTION
McMURDO J
No 5183 of 2008
| THE PUBLIC TRUSTEE OF QUEENSLAND | Applicant |
| and | |
| OCTAVIAR INVESTMENT NOTES LIMITED | |
| (FORMERLY MFS INVESTMENT NOTES | |
| LIMITED) | |
| ACN 122 141 986 | Respondent |
| No 5184 of 2008 | |
| THE PUBLIC TRUSTEE OF QUEENSLAND | Applicant |
| and | |
| OCTAVIAR LIMITED (FORMERLY MFS | |
| INVESTMENT LIMITED) | |
| ACN 107 863 436 | Respondent |
| No 5185 of 2008 | |
| THE PUBLIC TRUSTEE OF QUEENSLAND | Applicant |
| and | |
| OCTAVIAR INVESTMENT BONDS LIMITED | |
| (FORMERLY MFS INVESTMENT BONDS | |
| LIMITED) | |
| ACN 126 878 608 | Respondent |
| 5186 of 2008 | |
| THE PUBLIC TRUSTEE OF QUEENSLAND | Applicant |
and
12092008 D T(4)02/IRK(BNE) M/T BRIS16 (McMurdo J)
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MFS FINANCIAL SERVICES ALSO KNOWN AS
OCTAVIAR FINANCIAL SERVICES LIMITED
| ACN 101 579 999 | Respondent |
| BRISBANE | |
| ..DATE 12/09/2008 | 10 |
| 12092008 D T(4)02/IRK(BNE) M/T BRIS16 (McMurdo J) | |
| HIS HONOUR: The conclusion I have reached is that the | 1 |
| applications for winding-up should be adjourned. My present view is for a period of six weeks or to such earlier date as fixed by the Court upon the basis that undertakings derived from Mr Morris' draft would be offered by the respondent |
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companies and their directors which, I understand, Mr Bradley
has effectively offered or foreshadowed in the submission
yesterday. But there are a couple of things that need to be
clarified about all of that before those orders are pronounced
and I publish the reasons.
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...
HIS HONOUR: Now as indicated, in each application upon the undertaking of the respondent company and its directors:
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A. To appoint an administrator or administrators to the company pursuant to section 436(a) of the Corporations Act forthwith upon the companies not being enjoined from doing so.
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B. In the event that such administration ends otherwise than upon a deed of company arrangement being executed by both the company and the deed's administrator:
|
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application for winding up by the Public Trustee beyond the
day on which that application is next listed for hearing.
12092008 D.1 T(4)16-17/SMP(BNE) M/T BRIS16 (McMurdo J)
| (2) | To consent to an order for the winding up of the | 1 |
company upon that application;
It is ordered pursuant to section 447(a) that until further order in relation to the company section 439C will operate
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as if it did not include paragraph (c).
Upon the applicant giving the usual undertaking as to damages it is ordered that the present injunctions against the respondent companies be extended until 11 A.M. on 15
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September 2008 or until the applicant, through his solicitors, provides before then a written consent to the appointment of administrators.
It is further ordered that the applications for winding up in
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each of these four matters filed on 4 June 2008 are adjourned
to 15 September 2008 at 9.30 A.M. and I publish the reasons.
...
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HIS HONOUR: So the proposed order is that upon the appointment of an administrator or administrators to each of the respondent companies, the undertakings given to the Court on 6 July and 24 July 2008 be discharged?
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MR BRADLEY: May it please the Court?
HIS HONOUR: Is there - well that's a proposed order, does anyone oppose that?
UNIDENTIFIED SPEAKER: No, your Honour.
12092008 D.1 T(4)16-17/SMP(BNE) M/T BRIS16 (McMurdo J)
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HIS HONOUR: It will be further ordered in those terms.
...
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