In the matter of DSHE Holdings Limited [2021] NSWSC 608

Supreme Court New South Wales

Medium Neutral Citation: In the matter of DSHE Holdings Limited [2021] NSWSC 608 Hearing dates: 1 February 2021 Date of orders: 28/05/2021 Decision date: 28 May 2021 Jurisdiction: Equity - Corporations List Before: Williams J Decision: See orders at [118]. Catchwords: CORPORATIONS — deed of company arrangement — scope of power under s 90-15 of the Insolvency Practice Schedule — application for orders to facilitate the deregistration of the company without any intervening winding up — orders refused CORPORATIONS — deed of company arrangement — orders terminating the deed of company arrangement — orders under s 447A of the Corporations Act 2001 (Cth) modifying the operation of the winding up regime created by s 446AA in relation to reporting to creditors CORPORATIONS — deed of company arrangement — remuneration of deed administrator – where the remuneration claimed exceeds the total creditors' claims Legislation Cited: Corporations Act 2001 (Cth), ss 91, 436A, 444D, 444G, 445C, 445D, 446AA, 447A, 497, 499, 509, 533, 544, 601AA, 601AC, Pt 9.7 Insolvency Practice Schedule in Schedule 2 to the Corporations Act 2001 (Cth), ss 1-1, 5-15, 60-5, 60-10, 90-15, 90-20 Insolvency Practice Rules (Corporations) 2016 (Cth), ss 70-30, 70-40 Supreme Court (Corporations) Rules 1999 (NSW), rr 9.2, 9.8 Cases Cited: Baskerville v Tow.com.au Pty Ltd (in liq) [2018] FCA 1069 Cherry v Boultbee (1839) 41 ER 171 Deputy Commissioner of Taxation v Italian Prestige Jewellery Pty Ltd (in liq) (2018) 129 ACSR 115 Eagle; In the matter of Techfront Australia Pty Ltd (administrators appointed) [2020] FCA 542 Glenfyne International Holdings Ltd v Glenfyne Farms International AU Pty Ltd (in liq) [2019] NSWCA 304 In the matter of ACN 159 605 188 Pty Limited (in liquidation) (formerly Securimax Pty Limited) [2018] NSWSC 356 In the matter of Fearndale Holdings Pty Ltd (admin apptd) (recs & mgrs apptd) [2020] NSWSC 901 Re Courtenay House Capital Trading Group Pty Limited (in liquidation) (2020) 147 ACSR 1 Re GDK Projects Pty Ltd [2018] FCA 541 Re Hawden Property Group Pty Ltd (in liq) (2018) 125 ACSR 355 Re Octavia Administration Pty Ltd (in liq) [2020] NSWSC 927 Re Octaviar Ltd (in liq) [2019] QSC 235 Re One.Tel Ltd; Walker and Sherman (as liqs) (2002) 43 CSR 305 Re Quinlan (in their capacity as joint and several liquidators of Halifax Investment Services Pty Ltd (in liq) (No. 4) [2019] FCA 604 Sanderson as Liquidator of Sakr Nominees Pty Ltd (in liq) v Sakr (2017) 93 NSWLR 459 SAS Trustee Corporation v Miles (2018) 265 CLR 137 Shafston Avenue Construction Pty Ltd v McCann (2019) 138 ACSR 299 Strawbridge; In the matter of Virgin Australia Holdings Ltd (administrators appointed) (2020) 144 ACSR 310 Category: Principal judgment Parties: Jason Preston in his capacity as liquidator of DSHE Holdings Ltd (receivers & managers appointed) (in liquidation) ACN 166 237 841 (First Plaintiff)