Condon, in the matter of Nicolas Criniti Pty Ltd (in liquidation) [2020] FCA 1339

Federal Court of Australia

Condon, in the matter of Nicolas Criniti Pty Ltd (in liquidation) [2020] FCA 1339 File number: NSD 1028 of 2020

Judgment of: YATES J

Date of judgment: 16 September 2020

Catchwords: CORPORATIONS – application by liquidator for appointment as receiver and manager of trust property pursuant to s 57 of the Federal Court of Australia Act 1976 (Cth)

Legislation: Corporations Act 2001 (Cth) s 477(2)(c) Federal Court of Australia Act 1976 (Cth) s 57

Cases cited: Apostolou v VA Corporation of Aust Pty Ltd [2011] FCAFC 103 Jones (Liquidator) v Matrix Partners Pty Ltd, in the matter of Killarnee Civil & Concrete Contractors Pty Ltd (in liquidation) FCAFC 40; 260 FCR 310

Division: General Division

Registry: New South Wales

National Practice Area: Commercial and Corporations

Sub-area: Corporations and Corporate Insolvency

Number of paragraphs: 7

Date of last submission: 16 September 2020

Date of hearing: Determined on the papers

Counsel for the Plaintiff: Mr J R Anderson

Solicitor for the Plaintiff: Bartels Business Lawyers

ORDERS NSD 1028 of 2020 IN THE MATTER OF NICOLAS CRINITI PTY LTD (IN LIQUIDATION) ACN 603 457 772 SCHON GREGORY CONDON AS LIQUIDATOR OF NICOLAS CRINITI PTY LTD (IN LIQUIDATION) ACN 603 457 772 Plaintiff

order made by: YATES J DATE OF ORDER: 16 SEPTEMBER 2020

THE COURT ORDERS THAT:

1. Pursuant to s 57 of the Federal Court of Australia Act 1976 (Cth), the plaintiff be appointed as receiver and manager (receiver) of the property owned by Nicolas Criniti Pty Ltd (in liquidation) (ACN 603 457 772) (Company) as trustee for the Bridge Road Unit Trust (Trust) without security. 2. The receiver have all of the powers under s 420 of the Corporations Act 2001 (Cth), as if the reference in that section to "the corporation" were a reference to "the Trust" including, without limitation, the power to do all things necessary and convenient to realise the property of the Trust. 3. The receiver's costs, expenses and remuneration in connection with the receivership be paid from the property of the Trust. 4. The plaintiff's costs of and incidental to this application be costs in the liquidation of the Company. 5. Liberty to apply be granted to the plaintiff including, if necessary, for approval of his remuneration as liquidator of the Company. Note: Entry of orders is dealt with in Rule 39.32 of the Federal Court Rules 2011.