Elderslie Finance Corporation Limited v Newpage Pty Limited [2007] FCA 4

FEDERAL COURT OF AUSTRALIA

Elderslie Finance Corporation Limited v Newpage Pty Limited [2007] FCA 4

ELDERSLIE FINANCE CORPORATION LTD AND PETER ALEXIS GEORGE v NEWPAGE PTY LTD NSD 4 OF 2007

STONE J

5 JANUARY 2007

SYDNEY IN THE FEDERAL COURT OF AUSTRALIA

NEW SOUTH WALES DISTRICT REGISTRY NSD 4 OF 2007

BETWEEN: ELDERSLIE FINANCE CORPORATION LTD

First Applicant

PETER ALEXIS GEORGE

Second Applicant

AND: NEWPAGE PTY LTD

Respondent

JUDGE: STONE J

DATE OF ORDER: 5 JANUARY 2007

WHERE MADE: SYDNEY

THE COURT NOTES: 1. The undertaking given in open Court by Barry Kenneth Hamilton that if appointed as provisional liquidator of the defendant:

a. he will not use the defendant's assets to pay his expenses incurred as receiver/manager of the defendant until further order of the Court;

b. he will not, in his capacity as provisional liquidator of the defendant, dispose or otherwise transfer or assign any of the assets of the defendant until further order of the Court.

AND THE COURT ORDERS THAT: 2. Barry Kenneth Hamilton of Level 2, 171 Macquarie Street, Hobart, Chartered Accountant has leave to seek to be appointed and to act as provisional liquidator of the defendant.

3. Subject to the usual undertakings as to damages given by the plaintiffs, Barry Kenneth Hamilton of Level 2, 171 Macquarie Street, Hobart, Chartered Accountant, is appointed as provisional liquidator of the defendant.

1. The costs of the interlocutory process be paid out of the assets of the defendant.

2. The originating process be listed for hearing before the Corporations Duty Judge on Wednesday 24 January 2007 at 10:15am.

3. The parties have liberty to apply on three days' notice.

4. The plaintiffs have leave to file in Court and to read for the purpose of the hearing of the interlocutory process the affidavit of Barry Kenneth Hamilton sworn on 5 January 2007 and the affidavit of Peter Jones worn on 3 January 2007.