In the matter of Karim Pty Limited (in liq) [2020] NSWSC 1678

Supreme Court New South Wales

Medium Neutral Citation: In the matter of Karim Pty Limited (in liq) [2020] NSWSC 1678 Hearing dates: 23 November 2020 Date of orders: 26 November 2020 Decision date: 26 November 2020 Jurisdiction: Equity - Corporations List Before: Gleeson J Decision: (1) That the remuneration of the plaintiffs, as liquidators of Karim Pty Limited (in liq), for the period 8 June 2019 to 3 July 2020 is determined to be $76,491 (exclusive of GST). (2) That the plaintiffs' costs of this application (save for the costs dealt with in the costs order made by Black J on 13 November 2020) shall be costs in the winding up of the company. Catchwords: CORPORATIONS – winding up – where company in liquidation – application for approval of liquidators remuneration – Insolvency Practice Schedule (Corporations) s 60-10 – whether claim for remuneration reasonable Legislation Cited: Corporations Act 2001 (Cth), Sch 2 Insolvency Practice Schedule (Corporations), s 60-10, 60-12 Cases Cited: Anderson Group Pty Ltd; Mann v Anderson [2002] NSWSC 764; (2002) 20 ACLC 1607 In the matter of Karim Pty Ltd (in liq) [2020] NSWSC 1603 Re Idylic Solutions Pty Ltd as trustee for Super Save Superannuation Fund and Others [2016] NSWSC 1292 Sanderson as Liquidator of Sakr Nominees Pty Ltd (in liquidation) v Sakr (2017) 93 NSWLR 459;[2017] NSWCA 38 Templeton v Australian Securities and Investments Commission (2015) FCAFC 137; 108 ACSR 545 Category: Principal judgment Parties: Vincent Joseph Pirina in his capacity as liquidator of Karim Pty Ltd (in liq) ACN 147 759 653 (First plaintiff) Steven Naidenov in his capacity as liquidator of Karim Pty Ltd (in liq) ACN 147 759 653 (Second plaintiff) Edgar Francis (First defendant) Kevin Nol (Second defendant) Representation: Counsel: Mr D Turner (Solicitor) (Plaintiffs) Mr J T Johnson (Second defendant)