Peter Hillig in his capacity as liquidator of ACN 092 745 330 Pty Ltd (in Liquidation) v Battaglia [2020] NSWSC 1617

Supreme Court New South Wales

Medium Neutral Citation: Peter Hillig in his capacity as liquidator of ACN 092 745 330 Pty Ltd (in Liquidation) v Battaglia [2020] NSWSC 1617 Hearing dates: 11 November 2020 Date of orders: 11 November 2020 Decision date: 13 November 2020 Jurisdiction: Equity - Corporations List Before: Gleeson J Decision: The Court: (1) Pursuant to s 477(2B) of the Corporations Act, 2001 (Cth), grants approval for the first plaintiff (Liquidator), as the liquidator of the second plaintiff (Company), to enter into, and to cause the Company to enter into, a Deed of Settlement, in substantially the same terms as the draft Deed of Settlement (Draft Deed) which is Exhibit A in the proceedings. (2) Pursuant to s 477(2A) of the Corporations Act, 2001 (Cth), grants approval for the liquidator, as the liquidator of the company, to compromise all debts owing by the second defendant to the Company upon the terms set out in the Draft Deed. (3) Stand over the proceedings before Black J at 9.45 am on 11 November 2020 with a view to the parties providing confirmation to his Honour that the Deed in the form of Exhibit A has been exchanged. Catchwords: CORPORATIONS – winding up – where company in liquidation – application by liquidator for approval to enter into deed of settlement – where compromise debts of the company – where obligations under deed may be discharged more than three months after date of deed – Corporations Act 2001 (Cth) ss 477(2A) and (2B) – whether appropriate for Court to approve deed – approval granted Legislation Cited: Corporations Act 2001 (Cth), ss 477, 588, 1317H Corporations Regulations 2001 (Cth), reg 5.4.02 Cases Cited: Alexander v Ajax Insurance Co Ltd [1956] VLR 436 Hillig v Battaglia [2018] NSWCA 67 In the matter of Neil Robert Cussen as liquidator Total Hoarding Supplies Pty Ltd (in liquidation) [2019] NSWSC 887 Re ACN 092 745 330 Pty Ltd (in liq) [2017] NSWSC 241 Re HIH Insurance Ltd and related matters [2004] NSWSC 5 Re HIH Overseas Holdings Ltd (in prov liq) [2001] NSWSC 426 Re Luxtrend Pty Ltd (in liq) (1996) 135 FLR 170; [1997] 2 Qd R 86 Re One.Tel Limited [2014] NSWSC 457; (2014) 99 ACSR 247 Re Rubix Investments Group Pty Ltd (in liq) [2018] NSWSC 1184 Re Spedley Securities Ltd (in liq) (1992) 9 ACSR 83 Re G A Listing & Maintenance Pty Ltd (1994) 15 ACSR 308 Re Tietyens Investments Pty Ltd (in liq) (rec and mgr apptd) [1999] FCA 206; (1999) 31 ACSR 1 State Bank (NSW) v Turner Corporation Ltd (1994) 14 ACSR 480 The Roy Morgan Research Centre Pty Ltd v Wilson Market Research Pty Ltd (No 2) 14 ACLC 939; 20 ACSR 170 Texts Cited: Mason & Carter's Restitution Law in Australia (2nd ed, 2008) Category: Principal judgment Parties: Peter Hillig in his capacity as official liquidator of ACN 092 745 330 Pty Ltd (In Liquidation) (First plaintiff) ACN 092 745 330 Pty Ltd (in Liquidation) formerly known as SX Projects (NSW) Pty Ltd (Second plaintiff) Vince Bruno Battaglia (First defendant) Karen Lee Battaglia (Second defendant) Fellmane Pty Ltd (Third defendant) Representation: Counsel: Mr D Stack (Plaintiffs) Mr F Corsaro SC (Defendants)