Bone, in the matter of ACN 002 864 002 Pty Ltd (in liq) formerly known as Petrolink Pty Ltd v Smith [2015] FCA 870

FEDERAL COURT OF AUSTRALIA

Boné, in the matter of ACN 002 864 002 Pty Ltd (in liq) formerly known as Petrolink Pty Ltd v Smith [2015] FCA 870 Citation: Boné, in the matter of ACN 002 864 002 Pty Ltd (in liq) formerly known as Petrolink Pty Ltd v Smith [2015] FCA 870

Parties: BARRY BONÉ v MICHAEL JOHN MORRIS SMITH IN HIS CAPACITY AS LIQUIDATOR OF ACN 002 864 002 PTY LTD (IN LIQUIDATION) FORMERLY KNOWN AS PETROLINK PTY LTD

File number: NSD 1691 of 2011

Judge: WIGNEY J

Date of judgment: 28 July 2015

Catchwords: CORPORATIONS – winding up – liquidators – where the liquidator reached an agreement in principle in relation to the settlement of the proceedings – whether approval should be given by the Court to the official liquidator pursuant to ss 477(2A) and (2B) of the Corporations Act 2001 (Cth) – whether directions should be given by the Court pursuant to s 479(3) of the Corporations Act 2001 (Cth)

Legislation: Corporations Act 2001 (Cth), ss 436B(2), 477(2A), 477(2B), 479(3)

Cases cited: Empire (Aust) Nominees Pty Ltd v Vince (2000) 35 ACSR 167 In the matter of Petrolink Pty Ltd; Smith v Boné [2014] FCA 1024 Re Addstone Pty Ltd (in liq) (1997) 25 ACSR 357 Re Ansett Australia Ltd (No 3) (2002) 115 FCR 409 Re G B Nathan and Co Pty Ltd (in liq) (1991) 24 NSWLR 674 Re GA Listing & Maintenance Pty Ltd (1994) 15 ACSR 308 Re Great Southern Managers Australia Ltd (in liq); Ex parte Martin Bruce Jones, Darren Gordon Weaver and James Henry Stewart (in their capacity as liquidators of Great Southern Managers Australia Ltd (in liq)) [2014] WASC 312 Re Lemon Tree Passage & Districts RSL and Citizens Club Co-operative Ltd (1987) 11 ACLR 796 Re McGrath (in their capacity as liquidators of HIH Insurance Ltd) (2010) 266 ALR 642 Re One.Tel Ltd (2014) 99 ACSR 247 Re Spedley Securities Ltd (in liq) (1992) 9 ACSR 83 Re Tietyens Investments Pty Ltd (in liq) (rec and mgr apptd) (1999) 31 ACSR 1 Shiraz Nominees (in liq) v Collinson (1985) 10 ACLR 7