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ARTICLE · 31 MAY 2019

Provisional Liquidators Appointed To Protect Company Assets From Majority Shareholder

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Provisional liquidators were appointed after allegations of oppressive manner towards minority shareholder and company.

AustraliaInsolvency/Bankruptcy/Re-Structuring
Cameron Cheetham
Cameron Cheetham
Mark Wilks
Mark Wilks
Craig Ensor
Craig Ensor
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This week's TGIF considers the case of Champions Quarry Pty Ltd v GSQ Holdings Pty Ltd, in the matter of Champions Quarry 2 Pty Ltd [2019] FCA 459 in which provisional liquidators were appointed following allegations a company's business had been conducted in a manner oppressive to its minority shareholder and the company as a whole.

What happened?

The proceedings concerned an interlocutory application for the appointment of provisional liquidators to Champions Quarry 2 Pty Ltd (the Company).

The action was brought by a minority shareholder as part of broader proceedings to have the Company wound up on the basis that:

  • a director had conducted the affairs of the company in his own interest; and

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