In the matter of JSMOT Pty Ltd (No 2) [2020] NSWSC 1755

Supreme Court New South Wales

Medium Neutral Citation: In the matter of JSMOT Pty Ltd (No 2) [2020] NSWSC 1755 Hearing dates: 07 December 2020 Decision date: 07 December 2020 Jurisdiction: Equity Before: Leeming JA Decision: 1. The remuneration of the Applicant for acting in his capacity as the Receiver and Manager of the assets and undertaking of the JOG Unit Trust for the period 18 April 2020 to 31 October 2020 be fixed by the Court in the amount of $13,075 plus GST. 2. The remuneration of the Applicant for acting in his capacity as the Liquidator of JSMOT Pty Ltd for the period 27 April 2020 to 31 October 2020 be fixed by the Court in the amount of $47,378 plus GST. 3. The Applicant may draw the remuneration referred to in 1 and 2 above from the assets of the JOG Unit Trust. Catchwords: CORPORATIONS – external administration – court-appointed receivers to trust assets – trustee being wound up – trustee ceased to be trustee of trading trust – no successor trustee appointed – entitlement of liquidator and receiver to have remuneration met out of trust assets – whether remuneration reasonable Legislation Cited: Corporations Act 2001 (Cth), s 600K Insolvency Practice Schedule (Corporations), cll 60-10, 60-12 Uniform Civil Procedure Rules 2005 (NSW), r 26.4 Cases Cited: Alphena Pty Limited (in liq) v PS Securities Pty Ltd as Trustee of the Joseph Family Trust [2013] NSWSC 447; 94 ACSR 160 Harker-Mortlock v Commonwealth Bank of Australia [2019] NSWCA 56 In the matter of Houben Marine Pty Ltd (in liq) [2018] NSWSC 745 In the matter of Independent Contractor Services (Aust) Pty Ltd ACN 119 186 971(in liquidation) (No 2) [2016] NSWSC 106; 305 FLR 222 In the matter of JSMOT Pty Ltd [2020] NSWSC 549 Re Application of Central Commodities Services Pty Ltd [1984] 1 NSWLR 25 Re Banksia Securities Ltd (in liq) (recs and mgrs apptd) [2017] NSWSC 540 Re Idylic Solutions Pty Ltd as trustee for Super Save Superannuation Fund [2016] NSWSC 1292 Re Say Enterprises Pty Ltd [2018] NSWSC 396 Sanderson as liquidator of Sakr Nominees Pty Ltd (in liq) v Sakr (2017) 93 NSWLR 459; [2017] NSWCA 38 Structum Pty Ltd v CWCN Pty Ltd [2020] NSWSC 1314 Category: Procedural and other rulings Parties: Vincent Pirina (Applicant) Gillian Mary McCall (First Respondent/Plaintiff) Jeffrey Sharp (Second Respondent/Second Defendant) JSMOT Pty Ltd (Third Respondent/First Defendant) Representation: Counsel: J P Nathan (Applicant)