Topp (Liquidator), in the matter of Aidzan Pty Limited (in Liquidation) v Nazdia Pty Limited [2020] FCA 1764

Federal Court of Australia

Topp (Liquidator), in the matter of Aidzan Pty Limited (in Liquidation) v Nazdia Pty Limited [2020] FCA 1764 File number(s): NSD 306 of 2019

Judgment of: RARES J

Date of judgment: 20 November 2020

Catchwords: BANKRUPTCY AND INSOLVENCY – application nunc pro tunc for approval of payments of remuneration of Court appointed receivers and liquidators paid to themselves without prior application to Court – where liquidators misunderstood effect of orders entitling Registrar to determine amount of liquidators' and receivers' remuneration – Held: Registrar to determine and approve for payment, out of funds held by liquidators, their remuneration, costs and expenses as liquidators and receivers BANKRUPTCY AND INSOLVENCY – application nunc pro tunc for payment from assets held on two trusts by company in liquidation – whether necessary to apportion liability between assets of two trusts for remuneration of liquidators for brief period until new trustee appointed to superannuation fund – where only business of company was to act as trustee and liquidators and receivers did no substantive work in respect of superannuation trust and did not seek any remuneration for relevant short period – Held: liquidators authorised not to seek or apportion remuneration in respect of superannuation trust

Legislation: Superannuation Industry (Supervision) Act 1993 (Cth) s 120(2)(e)

Cases cited: Carter Holt Harvey Woodproducts Australia Pty Ltd v Commonwealth (2019) 368 ALR 390

Division: General Division

Registry: New South Wales