Foreign company unsuccessful in seeking to terminate its own winding up

Mark Wilks and Brooke Egan of Corrs highlight a Federal Court decision confirming that the appointment of an Australian liquidator to a registered foreign company suspends the powers of its directors in Australia, prevents the company from applying in its own name to terminate the winding up, and reinforces the liquidator’s control of the process while illustrating the growing role of judicial cooperation in cross-border insolvencies.

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