Woodgate, in the matter of Bell Hire Services Pty Ltd (in liq) [2016] FCA 1583

FEDERAL COURT OF AUSTRALIA

Woodgate, in the matter of Bell Hire Services Pty Ltd (in liq) [2016] FCA 1583 File number: NSD 1350 of 2015

Judge: FARRELL J

Date of judgment: 23 December 2016

Catchwords: CORPORATIONS – application by liquidator for directions pursuant to s 479(3) of the Corporations Act 2001 (Cth) – where insolvent company corporate trustee – where sole purpose of the trust was carrying on the business of the insolvent company – whether the liquidator would be justified in treating the assets and liabilities of the company as assets and liabilities of the trust – whether appropriate for the liquidator's remuneration, the costs of this application and the costs of the petitioning creditor to be paid out of the assets of the trust

Legislation: Corporations Act 2001 (Cth) ss 473(10), 479(3), 556 Trustee Act 1925 (NSW) s 63

Cases cited: Caterpillar Financial Australia Ltd v Ovens Nominees Pty Ltd [2011] FCA 677 In the matter of AAA Financial Intelligence Ltd (in liquidation ACN 093 616 445 ) [2014] NSWSC 1004 Lemery Holdings Pty Ltd v Reliance Financial Services Pty Ltd (2008) 74 NSWLR 550; [2008] NSWSC 1344 Octavo Investments Pty Ltd v Knight (1979) 144 CLR 360; [1979] HCA 61 Re Suco Gold Pty Ltd (in liq) (1983) 33 SASR 99 Re Suncoast Restoration Pty Ltd (in liq) (2013) 211 FCR 203; [2013] FCA 355 Trim Perfect Australia v Albrook Constructions [2006] NSWSC 153 Warner, in the matter of GTL Tradeup Pty Ltd (in liq) [2015] FCA 323 D'Angelo N, Commercial Trusts (LexisNexis Butterworths, 2014) D'Angelo, N "Commercial trusts in practice: the trust as a surrogate company" (Paper presented at the Annual Commercial and Corporate Law Conference, Supreme Court of New South Wales, 15 November 2016) LexisNexis, Austin & Black's Annotations to the Corporations Act