Federal Court of Australia
FEDERAL COURT OF AUSTRALIA
Provident Capital Limited v Kelso Builders Supplies Pty Limited (in Liquidation) (Receiver and Manager Appointed) [2008] FCA 868
INSOLVENCY – application for declaration that creditor had not surrendered its security – creditor completed proof of debt form without estimating value of security – creditor voted at meeting by show of hands or on the voices – no poll taken – no relevant conduct – no question of inadvertence – no surrender of security
Corporations Act 2001 (Cth) s 554E Corporations Regulations 2001 reg 5.6.24
Health & Life Care Ltd v SA Asset Management Corp (1995) 18 ACSR 153 applied Re Douglas Homes Qld Pty Ltd (in liq) [1980] Qd R 528 cited Sargent v ASL Developments Limited (1974) 131 CLR 634 distinguished Surfers Paradise Investments Pty Limited (in liq) v Davoren Nominees Pty Limited (2004) 1 QR 567 applied Young v ACN 081 162 512 (formerly Dallen Design Pty Ltd) (2005) 218 ALR 449 distinguished PROVIDENT CAPITAL LIMITED (ACN 082 735 573) v KELSO BUILDERS SUPPLIES PTY LIMITED (IN LIQUIDATION) (RECEIVER AND MANAGER APPOINTED) (ACN 002 026 039) NSD 85 OF 2008
JACOBSON J
6 JUNE 2008
SYDNEY IN THE FEDERAL COURT OF AUSTRALIA
NEW SOUTH WALES DISTRICT REGISTRY NSD 85 OF 2008
IN THE MATTER OF KELSO BUILDERS SUPPLIES PTY LIMITED (IN LIQUIDATION) (RECIEVER AND MANAGER APPOINTED) (ACN 002 026 039)
BETWEEN: PROVIDENT CAPITAL LIMITED (ACN 082 735 573)
Applicant
AND: KELSO BUILDERS SUPPLIES PTY LIMITED (IN LIQUIDATION) (RECEIVER AND MANAGER APPOINTED) (ACN 002 026 039)
Respondent
JUDGE: JACOBSON J DATE OF ORDER: 6 JUNE 2008
WHERE MADE: SYDNEY
THE COURT DECLARES THAT:
1. By attending and voting at the meeting of creditors on 21 August 2007, Provident Capital Limited did not surrender its security constituted by the deed of charge and the mortgage over the Moree Hot Springs Health Resort. Note: Settlement and entry of orders is dealt with in Order 36 of the Federal Court Rules. IN THE FEDERAL COURT OF AUSTRALIA
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