Receiver

Question 1

Bula Limited

Answer 1

Primary duty to the debenture holder, no obligation to wait for market to rise

Question 2

Re Edenfell

Answer 2

Court must judge the conduct at the time and in light of the facts

Question 3

Ruby Property

Answer 3

Bound to perform fixed price contract, determined at the time of sale, proper steps to get best price, no duty to wait or sell immediately, care owed to company and guarantor, not to unsecured creditors, no special approach, no fixed rules, consider other factors, if theres a breach, cant blame agent, best price is a matter of fact

Question 4

Irish Oil and Cake Mills

Answer 4

Not obliged to keep company appraised unless to do so will assist in obtaining best price possible.

Question 5

Smith -v- Middleton

Answer 5

Cannot be said - no duty to account, depends on the individual case,

Question 6

Kinsella -v- Somers

Answer 6

No general duty to account, must prove applicant is unfairly prejudiced