Australian Executor Trustees Limited v Provident Capital Limited (No 3) [2020] FCA 1840

Federal Court of Australia

Australian Executor Trustees Limited v Provident Capital Limited (No 3) [2020] FCA 1840 File number(s): NSD 808 of 2012

Judgment of: RARES J

Date of judgment: 30 November 2020

Catchwords: CORPORATIONS – application for approval of receivers' remuneration under s 425 of the Corporations Act 2001 (Cth) – application by receiver for his replacement due to retirement – reasonableness of charges claimed by receivers – where some tasks required to be done by receivers relating to the sale of certain properties were more difficult, complex and time-consuming than anticipated – Held: amounts claimed by receivers reasonable

Legislation: Corporations Act 2001 (Cth) s 425

Cases cited: Australian Executor Trustee Ltd v Provident Capital Limited (2018) 125 ACSR 133 Australian Executor Trustees Limited v Provident Capital Limited (Receivers and Managers Appointed) (In Liq) (No 2) [2018] FCA 1969 Australian Executor Trustees Limited v Provident Capital Ltd (2012) 203 FCR 461 Templeton v Australian Securities Investments Commission (2015) 108 ACSR 545

Division: General Division

Registry: New South Wales

National Practice Area: Commercial and Corporations

Sub-area: Corporations and Corporate Insolvency

Number of paragraphs: 28

Counsel for the Applicant: Mr J Hynes

Solicitor for the Applicant: Norton Rose Fulbright

ORDERS NSD 808 of 2012

BETWEEN: AUSTRALIAN EXECUTOR TRUSTEES LIMITED Applicant

AND: PROVIDENT CAPITAL LIMITED (RECEIVERS APPOINTED) (IN LIQUIDATION) Respondent

order made by: RARES J DATE OF ORDER: 30 NOVEMBER 2020