In the matter of Glenvine Pty Limited (in liquidation) [2020] NSWSC 866

Supreme Court New South Wales

Medium Neutral Citation: In the matter of Glenvine Pty Limited (in liquidation) [2020] NSWSC 866 Hearing dates: 19, 26, 30 June 2020 Decision date: 03 July 2020 Jurisdiction: Equity - Corporations List Before: Black J Decision: Liquidator appointed without security as receiver of VBC Trust property and Darlinghurst Property with power of sale. Receiver permitted to draw reasonable costs and expenses, but not remuneration until approved by the Court, from realised funds. Parties to make further submissions as to costs. Catchwords: CORPORATIONS — Receivers and managers — Appointment of liquidator as receiver with power of sale — Where mortgaged property was the only substantial trust property — Where company in liquidation has right of exoneration for liabilities incurred under outstanding mortgage — Where there is outstanding judgment debt against company in liquidation in separate proceedings EQUITY — Trusts and trustees — Transfer in equity — Imperfect gifts — Where no signed transfer had been delivered to transferee — Where certificate of title still held by mortgagee FAMILY LAW — Property — Marriage — Adjustment of property interests — Proper construction of Family Court orders — Where trustee was not party to Family Court proceedings — Whether orders transferred title in property without compliance with orders for correspondence discharge of mortgage Legislation Cited: - Corporations Act 2001 (Cth) s 420, 436A, 440A(2) - Evidence Act 1995 (NSW), s 128 - Family Law Act 1975 (Cth), ss79, 99AB, 99AE, 105, Pt VIIIAA - Family Law Rules 2004 (Cth), r 6.02 - Home Building Act 1989 (NSW) - Real Property Act 1900 (NSW), s 41 - Supreme Court Act 1970 (NSW), s 67 - Trustee Act 1925 (NSW), s 59 Cases Cited: - 13 Coromandel Place Pty Ltd v CL Custodians Pty Ltd (in liq) [1999] FCA 144; (1999) 30 ACSR 377 - Australian Securities and Investments Commission v Primelife Corporation Ltd [2007] FCA 1874 - Australian Securities Commission v Marlborough Gold Mines Ltd [1993] HCA 15; (1993) 177 CLR 485 - AVS Group of Companies Pty Ltd v Commissioner of Police [2010] NSWCA 81 - Bastion v Gideon Investments Pty Ltd (in liq) [2000] NSWSC 939; (2000) 35 ACSR 466 - Brunker v Perpetual Trustee Co Ltd [1937] HCA 29; (1937) 57 CLR 555 - Bruton Holdings Pty Limited (in liq) [2008] FCAFC 184; (2008) 173 FCR 472 - Bruton Holdings Pty Ltd v Commissioner of Taxation [2009] HCA 32; 239 CLR 346 - Carter Holt Harvey Woodproducts Australia Pty Ltd v Commonwealth [2019] HCA 20; (2019) 368 ALR 3 - Commissioner of Stamp Duties v Buckle [1998] HCA 4; (1998) 192 CLR 226 - Cremin, in the matter of Brimson Pty Ltd (in liq) [2019] FCA 1023 - Doyle v Commissioner of Police (No 2) [2020] NSWCA 34 - E Pty Ltd v Klearchos [2016] FAMCA 258 - Galante v Galante [2019] FamCA 756 - Harris v Conway [1989] Ch 32 - Hosking, Re Business Aptitude Pty Ltd (in liq) [2016] FCA 1438 - Isin v Ozen [2017] NSWCA 316 - Jones v Matrix Partner Pty Ltd; Re Killarnee Civil & Concrete Contractors Pty Ltd (in liq) [2018] FCAFC 40; (2018) 260 FCR 310 - Kennon v Spry (2008) 238 CLR 366 - Kerr, Re Angel's Castle Pre-School Pty Ltd (in liq) [2010] FCA 786 - Knight & Ellington [2019] FamCA 488 - McLean v Hill, TMC Plumbing & Drainage Pty Ltd (in liq) [2019] FCA 1439 - Milroy v Lord (1862) 45 ER 1185 - Mullane v Mullane (1983) 158 CLR 436 - Ng v Van Der Velde [2011] FCAFC 35 - Octavo Investments v Knight (1979) 144 CLR 360 - Official Trustee v Mateo [2003] FCAFC 26; (2003) 127 FCR 217 - Palmer v Ayres; Ferguson v Ayres [2017] HCA 5; (2017) 91 ALJR 325 - Re Aberdeen All Farm Pty Ltd (in liq) [2020] NSWSC 770 - Re Australian Barrister Chambers Pty Ltd (in liq) [2017] NSWSC 245 - Re Australian Barrister Chambers Pty Ltd (in liq), unreported, 19 May 2017 - Re Crust'n'Crumbs Bakers (Wholesale) Pty Ltd [1992] 2 Qd R 76; (1991) 5 ACSR 70; 9 ACLC 912 - Re Enhill Pty Ltd [1983] 1 VR 561; (1982) 7 ACLR 8 - Re Glenvine Pty Ltd [2020] NSWSC 642 - Re Gramarker Pty Ltd; Clifford Sanderson (as liquidator of Gramarker Pty Ltd) v Simon Kerr [2014] NSWSC 243 - Re Independent Contractor Services (Aust) Pty Ltd (in liq) (No 2) [2016] NSWSC 106 - Re Johnson; Shearman v Robinson (1880) 15 Ch D 548 at 552 - Re North Food Catering Pty Ltd [2014] NSWSC 77 - Re Parkway One Pty Limited (No 2) [2020] NSWSC 191 - Re Primespace Property Investment Limited (in liq) [2016] NSWSC 1821 - Re Stansfield DIY Wealth Pty Ltd (in liq) [2014] NSWSC 1484; (2014) 103 ACSR 401 - Re Taylor, in the matter of CJ & KL Bond Pty Ltd (in liq) [2018] FCA 1430 - Shirlaw v Taylor (1991) 31 FCR 222 - Southwell v Jane [2011] FamCA 663 Category: Procedural and other rulings Parties: Christian Peter Sprowles (Third Plaintiff) Glenvine Pty Limited (in liquidation) Billie Ashley Pty Ltd (Second Defendant) Kelly Van Beek (Third Defendant) Representation: Counsel: D R Stack (Third Plaintiff) S J Philips (Second Defendant) C R C Newlinds SC/R Barnett