Korda, In the matter of Clynton Court Pty Ltd [2005] FCA 543

FEDERAL COURT OF AUSTRALIA

Korda, In the matter of Clynton Court Pty Ltd [2005] FCA 543 CORPORATIONS – deed of company arrangement – remuneration not fixed by creditors – remuneration to be fixed by a Registrar – whether administrators entitled to indemnity for costs incurred in an action to terminate the deed Corporations Act 2001 (Cth) ss 447A, 449E

Adsett v Berlouis (1992) 37 FCR 201 cited Bartlett v Wood (1861) 4 LT 692 cited Buena Vista Motors Pty Ltd (In Liq), Re and the Companies Act [1971] 1 NSWLR 72 cited Cresvale Far East Ltd (in liq) v Cresvale Securities Ltd (2001) 39 ACSR 622 cited Gleeson v Fitzpatrick (1920) 29 CLR 29 cited Harrison's Settlement Trusts, In re. Morris v Harrison – Sleap [1965] 1 WLR 1492 cited Hypec Electronics Pty Ltd (In Liquidation) v Mead (2004) 61 NSWLR 169 cited Independent Insurance Co Ltd (in provisional liquidation) (No 2), Re [2003] 1 BCLC 640 cited Keeler's Settlement Trusts, In re; Keeler v Gledhill [1981] Ch 156 cited Linen House Pty Ltd v Rugs Galore Australia Pty Ltd [1999] VSC 126 cited Mirror Group Newspapers plc (No 2) v Maxwell [1998] 1 BCLC 638 cited National Trustees Executors and Agency Company of Australasia Limited v Barnes (1941) 64 CLR 268 cited Nissen v Grunden (1912) 14 CLR 297 cited Papua New Guinea Dockyards Limited v Adams [2005] FCA 413 cited Pasminco Ltd (subject to deed of company arrangement), Re; McCluskey v Pasminco Ltd (subject to a deed of Company Arrangement) (2004) 49 ACSR 470 applied Potters Oils Ltd, In re [1986] 1 WLR 201 applied Silver Mines, In re (1882) 21 Ch D 381 cited Stockford Ltd (subject to a deed of company arrangement), Re; Korda and another (as joint and several deed administrators) (2004) 52 ACSR 279 applied Sydney Land Corporation Pty Ltd v Kalon Pty Ltd (1997) 142 FLR 188 cited Turner v Hancock (1879) 20 Ch D 303 cited Practice Statement – The Fixing and Approval of the Remuneration of Appointees (2004) [2004] BPIR 953 IN THE MATTER OF CLYNTON COURT PTY LIMITED (SUBJECT TO DEED OF COMPANY ARRANGEMENT) CLYNTON COURT PTY LTD (SUBJECT TO DEED OF COMPANY ARRANGEMENT), MARK ANTHONY KORDA and MARK FRANCIS XAVIER IN THEIR CAPACITY AS JOINT AND SEVERAL DEED ADMINISTRATORS OF CLYNTON COURT PTY LTD (SUBJECT TO A DEED OF COMPANY ARRANGEMENT) v THE J. ARON CORPORATION and THE GOLDMAN SACH GROUP, INC VID 153 of 2005 FINKELSTEIN J 3 MAY 2005 MELBOURNE