Brown v Cape Tribulation Reef Experinces Pty Ltd [2001] QSC 206

State 4111G Reporting Ql ,lDb Bureau "" l.)0 v":) . (~~ Queensland Government ..m,i} Department of Justice and Attorney-General Transcript of Proceedings Copyright in this transcript is vested in the Crown. Copies thereof must not be made or sold without the written authority of the Director, State Reporting Bureau. SUPREME COURT OF QUEENSLAND CIVIL JURISDICTION JONES J Application No 54 of 2001 DAVID JAMES BROWN and CAPE TRIBULATION REEF EXPERIENCES PTY LTD CAIRNS .. DATE 21/05/2001 JUDGMENT 1 Applicant Respondent 4Th Floor The Law Courts Compiex George Street Brisbane Q 4000 Telephone· /07) 3247 4360 Facsimjie: I 7) 3247 5532 -- 1 of 2 -- 21052001 T4/MFK M/T CNSl/2001 (Jones J) HIS HONOUR: This is an application by one of the principals of the respondent company for the appointment of a receiver. That application is joined in by the other principal, both acknowledging that the business of the company has become unworkable because of the differences which have arisen between the two principals. The application is made pursuant to section 420 of the Corporations Law. There is no prospect it seems on the material which I have read of the principals of the company being able to resolve their differences in a way which will allow the company either to carry on business or to be wound up effectively. I am satisfied, therefore, that the order which the parties propose is a correct one, and that receivers and managers ought to be appointed. The parties themselves have agreed upon the identity of those receiver managers who had indicated their willingness to act. I make orders in terms of the draft initialled by me and placed with the with papers. 2 JUDGMENT 20 -- 2 of 2 --