Company reinstated so trustee in bankruptcy could be appointed its director and have access to rights in relation to bankrupt’s shareholdings
Weston (Trustee) v Australian Securities and Investments Commission, in the matter of Empire Property and Investment Group Pty Ltd (Deregistered)  FCA 176
The Federal Court of Australia recently reinstated a company on application of the trustee in bankruptcy of the former sole director and shareholder.
The purpose of the reinstatement was to enable the trustee to gain access to shares the company held in another entity, which in turn gave rights to occupy or lease an apartment. The bankrupt had failed to disclose her position in the company and the rights in respect of the apartment in her Statement of Affairs.
The trustee in bankruptcy (Mr Weston) sought that the deregistered company, Empire Property and Investment Group Pty Ltd (Empire), be reinstated by ASIC. Mr Weston also sought that, upon reinstatement, he be registered as the sole shareholder, that Empire be wound up, and that he be appointed liquidator.
Mr Weston made an urgent application for relief pursuant to ss 601AH, 461(1)(a), 461(1)(k) and/or 462 of the Corporations Act 2001 (Cth) (the Act). […]