Personal Liability...Limited!

A recent order by the Supreme Court of WA acts as a timely reminder of the breadth of power conferred on the Court by section 447A of the Corporations Act 2001 (Cth) (Act), and the flexibility that the provision can provide in the conduct of any administration.

The approach taken by the Court in this matter is significant as it demonstrates the considerable flexibility that section 447A of the Act affords to the Court in assisting administrators to restructure the affairs of distressed entities and to achieve the objects of Part 5.3A of the Act.

Recent orders were received from the Supreme Court of Western Australia pursuant to section 447A of the in connection with the external administration of View Resources Limited (Subject to Deed of Company Arrangement), View Nickel Pty Ltd (Subject to Deed of Company Arrangement) and View Gold Pty Ltd (Subject to Deed of Company Arrangement) (View Group).