Deputy Commissioner of Taxation v Vintage Gold Investments Pty Ltd (In Liquidation) ACN 098 126 848 [2009] FCA 967

FEDERAL COURT OF AUSTRALIA

Deputy Commissioner of Taxation v Vintage Gold Investments Pty Ltd (In Liquidation) ACN 098 126 848 [2009] FCA 967

CORPORATIONS – consideration of an application by a liquidator for an order in relation to the distribution of a settlement fund having regard to an indemnity provided by the Deputy Commissioner of Taxation as an unsecured creditor in the winding up – consideration of the terms of an Indemnity Agreement – consideration of the role of the liquidator as contradictor of a claim by the indemnifying creditor to payment of the indemnity monies in priority to the costs and expenses of the liquidator properly incurred in preserving, realising or getting in property of the company – consideration of s 556(1) of the Corporations Act – consideration of the scope of the power conferred by s 564 of the Corporations Act – consideration of the relationship between ss 556(1) and 564 of the Corporations Act – consideration of the question of whether the indemnifying creditor should be given an advantage over the liquidator in respect of the liquidator's expenses having regard to the particular circumstances Corporations Act 2001 (Cth), ss 555, 556, 559, 564 Jarbin Pty Ltd v Clutha Ltd (in liq) (2004) 208 ALR 242 – cited and quoted Australia and New Zealand Banking Group Ltd v TJF EBC Pty Ltd (2006) 224 ALR 490 – cited and quoted Australian Steel Company v EPS Group [2006] NSWSC 1080; (2007) 59 ACSR 602 – cited and quoted Household Financial Services Pty Ltd v Chase Medical Centre Pty Ltd (1995) 18 ACSR 294 - cited State Bank of New South Wales v Brown (2001) 38 ACSR 715) - cited DEPUTY COMMISSIONER OF TAXATION v VINTAGE GOLD INVESTMENTS PTY LTD (IN LIQUIDATION) ACN 098 126 848

QUD 513 of 2005

GREENWOOD J

28 AUGUST 2009

BRISBANE

IN THE FEDERAL COURT OF AUSTRALIA