Warner, in the matter of GTL Tradeup Pty Ltd (in liq) [2015] FCA 323

FEDERAL COURT OF AUSTRALIA

Warner, in the matter of GTL Tradeup Pty Ltd (in liq) [2015] FCA 323 Citation: Warner, in the matter of GTL Tradeup Pty Ltd (in liq) [2015] FCA 323

Parties: ANTHONY JOHN WARNER IN HIS CAPACITY AS LIQUIDATOR OF GTL TRADEUP PTY LTD (IN LIQUIDATION)

File number: NSD 1368 of 2014

Judge: FARRELL J

Date of judgment: 9 April 2015

Catchwords: CORPORATIONS – external administration – whether moneys subject to statutory trust pursuant to s 981H of the Corporations Act 2001 (Cth) – whether moneys held in extant bank accounts should be deposited in the statutory trust account – application pursuant to ss 479 and/or 511 of the Corporations Act 2001 (Cth), or alternatively s 4(2) of the Jurisdiction of Courts (Cross-Vesting) Act 1987 (Cth) and s 63 of the Trustee Act 1925 (NSW) – whether liquidator justified in proceeding with the administration on the basis that reg 7.8.03 of the Corporations Regulations 2001 (Cth) applies to the distribution of the statutory trust account – whether liquidator entitled to an indemnity out of the moneys in the statutory trust account for remuneration – whether liquidator entitled to be indemnified for the costs of the application out of the statutory trust account

Legislation: Corporations Act 2001 (Cth) ss 479, 504(2), 506(1)(b), 511, 545, 568, 761A, 761C, 761D, 761E, 763A, 763B, 763C, 763D, 764A, 766A, 766C, 766D, 1330, Pt 7.8 Div 2 Subdiv A Corporations Regulations 2001 (Cth) regs 5.6.65, 7.8.01, 7.8.02, 7.8.03, 7.8.04, 7.8.05 Federal Court (Corporations) Rules 2000 (Cth) r 2.10 Insurance (Agents and Brokers) Act 1984 (Cth) s 28(4) Jurisdiction of Courts (Cross-Vesting) Act 1987 (Cth) s 4(2) Trustee Act 1925 (NSW) s 63