In the matter of Tianda Iron Ore (Australia) Pty Ltd [2020] NSWSC 1846

Supreme Court New South Wales

Medium Neutral Citation: In the matter of Tianda Iron Ore (Australia) Pty Ltd [2020] NSWSC 1846 Hearing dates: 2 and 27 November 2020 Date of orders: 17 December 2020 Decision date: 17 December 2020 Jurisdiction: Equity - Corporations List Before: Williams J Decision: Various relief granted. See orders at [125]. Catchwords: CORPORATIONS – winding up – approval of liquidator's remuneration and internal disbursements – no issue of principle CORPORATIONS – winding up – distribution of surplus – Corporations Act 2001 (Cth), s 488(2) – grant of special leave to distribute surplus to contributories, subject to direction under Insolvency Practice Schedule (Corporations), 90-15 CORPORATIONS – winding up – application for release of the liquidator and deregistration of the company – Corporations Act 2001 (Cth), s 480(d) – where application is prematurely made – appropriate to adjourn application to later date Legislation Cited: Civil Procedure Act 2005 (NSW), s 98 Corporations Act 2001 (Cth), ss 286, 461, 466, 480, 481, 488 and 556 Insolvency Practice Rules (Corporations) 2016 (Cth), r 70-40 Insolvency Practice Schedule (Corporations), ss 60-5, 60-10, 60-12, 70-35 and 90-15 Supreme Court (Corporations) Rules 1999 (NSW), rr 1.3, 2.8, 2.13, 7.5 and 7.9 Cases Cited: Cherry v Boultbee (1839) 4 My & Cr 442 Expile Pty Limited v Jabb's Excavations Pty Ltd [2004] NSWSC 284 FAI General Insurance Co Ltd v FAI Car Owners Mutual Insurance Co Pty Ltd (2009) 235 FLR 434; [2009] NSWSC 1350 In the matter of Fearndale Holdings Pty Ltd (admin apptd) (recs & mgrs apptd) [2020] NSWSC 901 Re Beverage Freight Services Pty Ltd [2020] NSWSC 797 Re Cardiff Coal Company (2014) 104 ACSR 135; [2014] NSWSC 1590 Re Hawden Property Group Pty Ltd (in liq) (2018) 125 ACSR 355; [2018] NSWSC 481 Re John L Norris Holdings Pty Ltd (in liq) [2013] NSWSC 2005 Re RR Impex Pty Ltd (in liq) [2013] NSWSC 1667 Sanderson as Liquidator of Sakr Nominees Pty Ltd (in liq) v Sakr (2017) 93 NSWLR 459; [2017] NSWCA 38 Category: Principal judgment Parties: Vincent Pirina (Applicant) Tianda Iron Ore Limited (Plaintiff) Tianda Iron Ore (Australia) Pty Ltd (In Liquidation) (First Defendant) Gansu Nonferrous Metal Australia Pty Ltd (Second Defendant) Representation: Counsel: Mr I Leong (Applicant)