In a complex (or even simple) liquidation it may be necessary for a liquidator to apply to court for orders facilitating the orderly winding up of the company or to discharge their function or powers. Applications can be made by liquidators, for example, to obtain directions relating to matters arising in the liquidation, for approval to compromise debts, for approval to enter into a funding agreement to pursue potential claims for the benefit of creditors, to challenge unfair preference claims (or other voidable transations) or to obtain examination summonses for the compulsory examination of certain persons about the examinable affairs of a company.

Practical Law’s Common liquidator court applications toolkit offers a range of know-how resources that provide detailed guidance on the key principles and matters of practice and procedure relevant to these (and many other) common liquidator court applications.

This toolkit includes resources addressing applications:

• For directions.
• For examination summonses under the Corporations Act 2001 (Cth).
• To challenge voidable transactions.
• To seek approval to compromise debts.
• To seek approval to enter into long-term agreements (including funding agreements).
• For orders for the delivery up of company property or books.
• For approval of a liquidators' remuneration and disbursements.
• For leave to disclaim onerous property.
• To challenge security interests.
• To recover proceeds of execution, post-liquidation dispositions and other property.

Access your copy of the Common liquidator court applications toolkit by Practical Law Insolvency and Restructuring here.