In the matter of Premier Energy Resources Pty Ltd [2023] NSWSC 1185, the Administrator unsuccessfully sought an order validating his appointment where he failed to investigate allegations that his appointment documents included a directors forged letter of resignation.
Key takeaways
- Administrators must investigate any doubts or allegations concerning the validity of their appointment and bring those matters to the Couts attention in a timely manner. This is an obligation and not merely best practice.
- If following an investigation, an administrator is still unable to satisfy themselves that their appointment was valid, they must apply to a court seeking an order validating their appointment.
- A court will not exercise its discretion to v…
Read the full article at: https://www.corrs.com.au/insights/administrators-put-on-notice-to-valid-their-appointment