PRACTICE AND PROCEDURE – application for stay of interlocutory order – stay of payment of funds out of court pursuant to court order – where funds were paid into court by company under voluntary administration – where orders made for payment out of funds in court before funds received in court and before the paying company went into administration – where party to which funds were to be paid out from funds in court claims funds paid into court were held on trust – Federal Court Rules 2011 r 41.03 – temporary stay granted
BANKRUPTCY AND INSOLVENCY – where court orders provide for the payment of funds into court by a company subsequently placed into voluntary administration – where court orders provide for the payment of funds out of court to a creditor – where party to which funds were to be paid out from funds in court claims funds paid into court were held on trust – where administrators consider payment out from funds in court would be contrary to statutory standstill – Corporations Act 2001 Pt 5.3A
Original article available at: https://www.judgments.fedcourt.gov.au/judgments/Judgments/fca/single/2023/2023fca0232
For more information, see the original judgement.
