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Insolvency Law Update: Ousted from Office - A Recent Case Study of Gadsden v MacKinnon (Liquidator), in the matter of Allibi Pty Ltd (in liq) [2023] FCA 647.

Insolvency: 10 August 2023

On 15 June 2023, the Federal Court of Australia handed down a decision concerning an application pursuant to ss 90-10, 90-15 and 90-20 of the Insolvency Practice Schedule (Corporations) to replace the liquidators of Allibi Pty Ltd ACN 124 066 717 (in liq) (Company) by reason of a demand the liquidators made, which the Court held did not have a proper basis.

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