In the matter of Franklyn Scholar (Australia) Pty Ltd; In the matter of Performance Development Group Pty Ltd [2020] NSWSC 1902

Supreme Court New South Wales

Medium Neutral Citation: In the matter of Franklyn Scholar (Australia) Pty Ltd; In the matter of Performance Development Group Pty Ltd [2020] NSWSC 1902 Hearing dates: 5 November 2020 Date of orders: 5 November 2020 Decision date: 05 November 2020 Jurisdiction: Equity - Corporations List Before: Black J Decision: Period during which the Plaintiffs may make any application pursuant to s 588FF of the Corporations Act 2001 (Cth) be extended to 5 February 2021. Catchwords: CORPORATIONS – Application for leave pursuant to s 588FF(3)(b) of the Corporations Act 2001 (Cth) extending time to bring voidable transactions claims – Where delay sought to first pursue claims through proof of debt process. Legislation Cited: - Conveyancing Act 1919 (NSW), s 37A - Corporations Act 2001 (Cth), ss 588FB, 588FC, 588FE, 588FF Cases Cited: - BP Australia Ltd v Brown (2003) 58 NSWLR 322; (2003) 46 ACSR 677; [2003] NSWCA 216 - Fortress Credit Corporation (Australia) II Pty Limited v Fletcher (2015) 254 CLR 489; [2015] HCA 10 - New Cap Reinsurance Corp Ltd (in liq) v Reaseguros Alianza SA (2004) 186 FLR 175; [2004] NSWSC 787 - [2011] NSWSC 857 - Re Clarecastle Pty Ltd (in liq) (2011) 85 ACSR 260; [2011] NSWSC 857 - Re Plutus Payroll Australia Pty Limited (in liq) [2020] NSWSC 1438 - Re Octaviar Ltd Pty Limited (recs and mgrs apptd) (in liq) (2012) 271 FLR 413; [2012] NSWSC 1460 Category: Principal judgment Parties: Proceedings 2020/297706 Michael James Billingsley and Neil Robert Cussen in their capacity as liquidators of Franklyn Scholar (Australia) Pty Ltd (in liquidation) (First Plaintiff) Franklyn Scholar (Australia) Pty Ltd (in liquidation) (Second Plaintiff) Proceedings 2020/297715 Michael James Billingsley and Neil Robert Cussen in their capacity as liquidators of Performance Development Group Pty Ltd (in liquidation) (First Plaintiff) Performance Development Group Pty Ltd (in liquidation) (Second Plaintiff) Representation: Counsel: Mr D Edney (Plaintiffs)