Paladin Energy Ltd

CITATION [2017] FCA 836

Application by administrators of Paladin and related companies under Corporations Act s588FM to fix a later time for registration in respect of security interests granted by Paladin to Deutsche Bank AG, where the security interests were granted after administration had commenced.

The court granted the order, noting that securities granted after administration would vest automatically under s588FL in the absence of an order, and finding it just and equitable (s588FM(1)(b)) to do so and accepting that it was in the best interests of the companies.

The summary of the pertinent points in this legal case update has been provided by Steve Pemberton, Lawyer and Consultant, as an extract from his digest of PPSA cases.