Federal Court of Australia
Federal Court of Australia
Mansfield (Liquidator), in the matter of Xiang Rong (Australia) Construction Group Pty Ltd (Trustee) (in Liq) [2023] FCA 1289 File number(s): NSD 646 of 2023
Judgment of: HALLEY J
Date of judgment: 26 October 2023
Catchwords: CORPORATIONS – winding up – deregistration and then subsequent reinstatement of Xiang Rong (Australia) Construction Group Pty Ltd (Company) as trustee for Xiang Rong Management Trust under s 601AH(5) of the Corporations Act 2001 (Cth) – declaration sought that the Company had the power to sell shares from the date of liquidation – whether the liquidators should be paid their expenses and remuneration out of the trust fund – remuneration determination – whether the work undertaken by the liquidators was reasonably necessary and bore a proper connection to the liquidation – orders and declarations made substantially in the form sought
Legislation: Corporations Act 2001 (Cth) ss 472, 477, 601AB, 601AH, 1318, Sch 2, Insolvency Practice Schedule (Corporations) ss 60-5, 60-10, 60-12 Federal Court Act 1976 (Cth) s 21 Trustee Act 1925 (NSW) s 85
Cases cited: 13 Coromandel Place Pty Ltd v C L Custodians Pty Ltd (in liq) [1999] FCA 144 Application of Sutherland [2004] NSWSC 798 Brislane v Australian Securities and Investments Commission, in the matter of Chiswick Universal Pty Ltd (in liq) [2018] FCA 1095 Grime Carter & Co Pty Ltd v Whytes Furniture (Dubbo) Pty Ltd [1983] 1 NSWLR 158 In the matter of Aberdeen All Farm Pty Ltd (in liquidation) [2020] NSWSC 770 In the matter of J & Lee Property Investment Group Pty Limited (in liquidation) [2019] NSWSC 927 In the matter of Rolcross Pty Limited (in liquidation) [2012] NSWSC 846 In the matter of Sakr Nominees Pty Limited [2017] NSWSC 668 Jones (Liquidator) v Matrix Partners Pty Ltd, in the matter of Killarnee Civil & Concrete Contractors Pty Ltd (in liq) (2018) 260 FCR 310; [2018] FCAFC 40 Morgan, in the matter of Brighton Hall Securities Pty Ltd [2018] FCA 2029 Olde and Anor Re Propestate Pty Ltd (In Liquidation) [2009] NSWSC 859 Owen, in the matter of RiverCity Motorway Pty Limited (Administrators Appointed) (Receivers and Managers Appointed) (2014) 225 FCR 541; [2014] FCA 1008 Wells v Wily [2004] NSWSC 607 Re Crest Realty Pty. Ltd. (in liq.) and The Companies Act [1977] 1 NSWLR 664 Re Greater West Insurance Brokers Pty Ltd [2001] NSWSC 825 Re G B Nathan & Co Pty Limited (In Liq) (1991) 24 NSWLR 674 Re Maureen Michael Management Pty Ltd [2005] NSWSC 1044 Sallway, in the matter of Mossgreen Pty Ltd (in liq) (Remuneration of Liquidators) [2019] FCA 1771 Sanderson as Liquidator of Sakr Nominees Pty Ltd (in liquidation) v Sakr (2017) 93 NSWLR 459; [2017] NSWCA 38
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