Purchas, in the matter of Estore Pty Limited (in liq) [2006] FCA 1222

FEDERAL COURT OF AUSTRALIA

Purchas, in the matter of Estore Pty Limited (in liq) [2006] FCA 1222 CORPORATIONS LAW – whether funds held pursuant to terminated deed of company arrangement are held for the benefit of deed creditors or property of the company in liquidation – direction that the funds be administered as the property of the company in liquidation Corporations Act 2001 (Cth), s 511 Commonwealth of Australia v Rocklea Spinning Mills Pty Ltd (2005) 145 FCR 220 discussed Dean-Willcocks v ACG Engineering Pty Ltd (in liq) (2003) 45 ACSR 290; (2003) 21 ACLC 1226; [2003] NSWSC 353 not followed Federal Commissioner of Taxation v All Suburbs Car Repairs Pty Ltd (1994) 14 ACSR 753; (1994) 94 ATC 4712; (1994) 29 ATR 329 applied Gidley Re Aliance Motor Body Pty Ltd (2006) 150 FCR 345 cited Lombe v Wagga Leagues Club Ltd (2006) 56 ACSR 387; (2006) 24 ACLC 298; [2006] NSWSC 3 followed Mentha v GE Capital Limited (1997) 154 ALR 565 cited Shepard v Sports Mondial of Australia Pty Ltd (in liq) (2005) 53 ACSR 746; [2005] NSWSC 432 cited and not followed in part IN THE MATTER OF ESTORE PTY LIMITED (IN LIQUIDATION) ACN 075 051 295 AND THE CORPORATIONS ACT 2001 (CTH) IAN JAMES PURCHAS AND RONALD JOHN DEAN-WILLCOCKS v ESTORE PTY LIMITED (IN LIQUIDATION) ACN 075 051 295 NSD 1364 OF 2006

GYLES J

8 SEPTEMBER 2006

SYDNEY IN THE FEDERAL COURT OF AUSTRALIA

NEW SOUTH WALES DISTRICT REGISTRY NSD 1364 OF 2006

IN THE MATTER OF ESTORE PTY LIMITED (IN LIQUIDATION) ACN 075 051 295 AND THE CORPORATIONS ACT 2001 (CTH) BETWEEN: IAN JAMES PURCHAS AND RONALD JOHN DEAN-WILLCOCKS

Plaintiffs

AND: ESTORE PTY LIMITED (IN LIQUIDATION) ACN 075 051 295

Defendant

JUDGE: GYLES J

DATE OF ORDER: 8 SEPTEMBER 2006

WHERE MADE: SYDNEY

THE COURT:

1. Directs that the plaintiffs as liquidators of Estore Pty Limited (in liquidation) are justified in applying and distributing the monies consisting of the Administration Fund identified in paragraphs 13 to 27 (inclusive) of the affidavit of Ian James Purchas sworn 14 July 2006 as property of Estore Pty Limited (in liquidation) in the due course of winding up. 2. Orders that the costs of the application be paid out of the assets of Estore Pty Limited (in liquidation) as an expense of the winding up on the basis that this application has been heard together with proceedings NSD 1467 of 2006 (In the matter of RSP Group Pty Limited (in liquidation) ACN 085 978 552 and the Corporations Act 2001 (Cth); Ian James Purchas and Ronald John Dean-Willcocks v RSP Group Pty Limited (in liquidation) ACN 085 978 552) and NSD 1481 of 2006 (In the matter of Worldwide Workers Pty Limited (in liquidation) ACN 091 484 025 and the Corporations Act 2001 (Cth); Ian James Purchas and Nicholas Craig Malanos v Worldwide Workers Pty Limited (in liquidation) ACN 091 484 025). Note: Settlement and entry of orders is dealt with in Order 36 of the Federal Court Rules. IN THE FEDERAL COURT OF AUSTRALIA