Owen, in the matter of Rivercity Motorway Pty Limited (Administrators Appointed) (Receivers and Managers Appointed) v Madden (No 2) [2012] FCA 312

FEDERAL COURT OF AUSTRALIA

Owen, in the matter of Rivercity Motorway Pty Limited (Administrators Appointed) (Receivers and Managers Appointed) v Madden (No 2) [2012] FCA 312 Citation: Owen, in the matter of Rivercity Motorway Pty Limited (Administrators Appointed) (Receivers and Managers Appointed) v Madden (No 2) [2012] FCA 312

Parties: MICHAEL ANDREW OWEN, STEPHEN JAMES PARBERY AND CHRISTOPHER CLARKE HILL IN THEIR CAPACITY AS JOINT AND SEVERAL ADMINISTRATORS OF RIVERCITY MOTORWAY PTY LIMITED (ADMINISTRATORS APPOINTED) (RECEIVERS AND MANAGERS APPOINTED) ACN 116 665 304 (AND EACH OF THE COMPANIES LISTED IN THE ATTACHED SCHEDULE) v MARTIN MADDEN AND DAVID MERRYWEATHER (RECEIVERS AND MANAGERS)

File number: QUD 60 of 2011

Judge: LOGAN J

Date of judgment: 1 February 2012

Catchwords: CORPORATIONS – managed investment scheme – administration of a company's affairs – appointment of administrators – administrator's remuneration – unique features of administration considered – pursuant to s 449E of the Corporations Act 2001 (Cth) remuneration determined – pursuant to s 443E and s 443F of the Corporations Act 2001 (Cth) applicants indemnified out of, and have lien over, the property and assets of each of the companies for their remuneration

Legislation: Corporations Act 2001 (Cth) Federal Court Rules 2011 (Cth) Insolvency Rules 1986 (Cth)

Cases cited: ASIC v Atlantic 3 Financial (Aust) Pty Ltd [2004] QSC 133 applied Caterpillar Financial Australia Ltd v Ovens Nominees Pty Ltd [2011] FCA 677 referred to Owen, in the matter of Rivercity Motorway Pty Limited (Administrators Appointed) (Receivers and Managers Appointed) v Madden [2011] FCA 295 cited Re Korda; in the matter of Stockford Ltd (2004) 140 FCR 424 followed Re Medforce Healthcare Services Ltd (in liquidation) [2001] 3 NZLR 145 followed Re Solfire Pty Ltd (in liq) (No 2) [1999] 2 Qd R 182 considered In Re Suco Gold Pty Ltd (in liquidation) [1983] 33 SASR 99 referred to Re Timeshare Resort Club Ltd (in liq) (2010) 187 FCR 13 applied Skafcorp Ltd (admin apptd) v Jarol Pty Ltd (2002) 44 ACSR 138 considered Venetian Nominees Pty Ltd v Conlan (1998) 20 WAR 96 applied Wide Bay Conservation Council Inc v Burnett Water Pty Ltd (No 9) (2011) 194 FCR 250 considered