Carson, in the matter of Hastie Group Limited (No 3) [2012] FCA 719

FEDERAL COURT OF AUSTRALIA

Carson, in the matter of Hastie Group Limited (No 3) [2012] FCA 719 Citation: Carson, in the matter of Hastie Group Limited (No 3) [2012] FCA 719

Parties: IAN MENZIES CARSON, DAVID LAURENCE MCEVOY AND CRAIG DAVID CROSBIE IN THEIR CAPACITY AS JOINT AND SEVERAL ADMINISTRATORS OF HASTIE GROUP LIMITED (ADMINISTRATORS APPOINTED) ABN 76 112 803 040, HASTIE GROUP LIMITED (ADMINISTRATORS APPOINTED) ABN 76 112 803 040 and 43 OTHERS

File number(s): NSD 749 of 2012

Judge: YATES J

Date of judgment: 5 July 2012

Catchwords: CORPORATIONS – application for directions under s 447D of the Corporations Act 2001 (Cth)

Legislation: Corporations Act 2001 (Cth) s 447D

Cases cited: Carson, in the matter of Hastie Group Limited [2012] FCA 626

Date of hearing: 5 July 2012

Place: Sydney

Division: GENERAL DIVISION

Category: Catchwords

Number of paragraphs: 21

Counsel for the Plaintiffs: Mr J Hynes

Solicitor for the Plaintiffs: Henry Davis York

IN THE FEDERAL COURT OF AUSTRALIA NEW SOUTH WALES DISTRICT REGISTRY GENERAL DIVISION NSD 749 of 2012

BETWEEN: IAN MENZIES CARSON, DAVID LAURENCE MCEVOY AND CRAIG DAVID CROSBIE IN THEIR CAPACITY AS JOINT AND SEVERAL ADMINISTRATORS OF HASTIE GROUP LIMITED (ADMINISTRATORS APPOINTED) ABN 76 112 803 040

First to Third Plaintiffs

HASTIE GROUP LIMITED (ADMINISTRATORS APPOINTED) ABN 76 112 803 040 and 43 OTHERS

Fourth to Forty-Seventh Plaintiffs

JUDGE: YATES J DATE OF ORDER: 5 JULY 2012 WHERE MADE: SYDNEY

THE COURT:

1. Orders that the plaintiffs have leave to file an Interlocutory Process dated 5 July 2012 in the form initialled by Yates J. 2. Orders that the Interlocutory Process be returnable instanter before Yates J. 3. Directs that the Administrators appointed to the plaintiff companies would be justified in: (a) treating any plant and equipment listed from pages 12 to 119 of Exhibit CDC-9 to the affidavit of Craig David Crosbie sworn 5 July 2012 (Exhibit) that is unclaimed (Unclaimed Plant and Equipment) as the property of Hastie Group Ltd (Administrators Appointed) and the companies set out in Schedule 1 of the Originating Process (collectively the Companies); (b) selling the Unclaimed Plant and Equipment by public online auction with Grays Auctions (Grays): (i) after causing to be published, on or before Saturday, 7 July 2012 and prior to the scheduled auction, the first occurring on Tuesday, 10 July 2012, advertisements advising of the proposed auction of the Unclaimed Plant and Equipment which include information substantially in terms of the notice contained at page 130 of the Exhibit, in The Australian newspaper and the website maintained by Grays; and (ii) issuing notices by email, within five days of the completion of the sale of the Unclaimed Plant and Equipment, to those creditors of the Companies (whose email address is known to the Administrators) advising them of the sale of the assets and the terms upon which the sale proceeds are to be held by the Administrators; (c) holding the proceeds of sale in a separate account and applying the proceeds: (i) towards the payment of the Administrators' costs incurred in connection with realising the Unclaimed Plant and Equipment; (ii) towards any claim in respect of the Unclaimed Plant and Equipment which, in the opinion of the Administrators, is a valid claim; and (iii) after a period of three months, distributing the balance of the proceeds of sale in the ordinary course of the administration of the Companies. 4. Orders that the costs of the application be costs in the administration of the Companies. 5. Orders that the document appearing from pages 12 to 119 of Exhibit CDC-9 to the affidavit of Craig David Crosbie sworn 5 July 2012 be placed in a sealed envelope marked confidential and which shall not be opened other than pursuant to an order of the Court. 6. Grants any person affected by these orders liberty to restore on two days' notice. Note: Entry of orders is dealt with in Rule 39.32 of the Federal Court Rules 2011.