In the matter of M & J Super Fund Pty Limited (in liquidation) [2021] NSWSC 279

Supreme Court New South Wales

Medium Neutral Citation: In the matter of M & J Super Fund Pty Limited (in liquidation) [2021] NSWSC 279 Hearing dates: 15 March 2021 Date of orders: 24 March 2021 Decision date: 24 March 2021 Jurisdiction: Equity - Corporations List Before: Williams J Decision: Order that the remuneration of the Applicant for the period from 3 April 2019 to 27 January 2021 in his capacity as the receiver and manager of the Fund be fixed in the sum of $96,558.50 (exclusive of GST) and in his capacity as liquidator of the Company be fixed in the sum of $3,278.00 (exclusive of GST); order that the remuneration and the Applicant's reasonable costs of the interlocutory process be paid out of the assets of the Fund. Catchwords: CORPORATIONS — Winding up — where entity in liquidation/receivership is a corporate trustee – remuneration of liquidator — remuneration of receiver and manager – reasonableness of remuneration – whether applicant as liquidator/ receiver has established entitlement to and reasonableness of remuneration – remuneration and costs to be paid out of the assets of the trust to which the applicant has been appointed Legislation Cited: Corporations Act 2001 (Cth), ss 477, 506 Uniform Civil Procedure Rules 2005 (NSW), r 26.4 Insolvency Practice Schedule (Corporations), ss 60-5, 60-10 Cases Cited: Re Substar Holdings Pty Ltd (in liq) [2020] FCA 1863 Re Glenvine Pty Ltd (in liq) [2020] NSWSC 866 Re IMF Global Australia Ltd (in liq) (No. 2) [2012] NSWSC 1426 Re North Food Catering Pty Ltd [2014] NSWSC 77 Re Houben Marine Pty Ltd (in liq) [2018] NSWSC 745 Re JML Property Services Pty ltd (in liq) [2018] NSWSC 1069 Re BBY (receivers and managers appointed) (in liq) (No. 3) [2018] NSWSC 1718 Re Abderdeen All Farm Pty Ltd (in liq) [2020] NSWSC 770 Re Say Enterprises Pty Ltd [2018] NSWSC 396 Re M & J Super Fund Pty Ltd (in liq), unreported, 10 October 2018, Supreme Court of New South Wales Category: Principal judgment Parties: M & J Super Fund Pty Limited (in liquidation) ACN 125 938 865 (First Plaintiff) Dermott Joseph McVeigh (Second Plaintiff/Applicant) Representation: Counsel: Mr D Krochmalik (Applicant)