In the matter of Young Fruitgrowers Cool Stores Rural Co-Operative Society Ltd [2021] NSWSC 886

Supreme Court New South Wales

Medium Neutral Citation: In the matter of Young Fruitgrowers Cool Stores Rural Co-Operative Society Ltd [2021] NSWSC 886 Hearing dates: 23 June 2021 Date of orders: 23 June 2021 Decision date: 23 June 2021 Jurisdiction: Equity - Corporations List Before: Black J Decision: Special leave granted to liquidator to distribute surplus in respect of the liquidation of the co-operative. Catchwords: CORPORATIONS — Winding up of co-operative — Application for special leave under Corporations Act 2001 (Cth) s 488(2) to distribute surplus in the liquidation of the co-operative — Interpretation of co-operative's rule as to distribution upon winding up. Legislation Cited: - Co-operatives Act 1992 (NSW) - Co-operatives (Adoption of National Law) Act 2012 (NSW) - Corporations Act 2001 (Cth), s 488(2) - Corporations (Ancillary Provisions) Act 2001 (NSW) Cases Cited: - Australian Broadcasting Commission v Australasian Performing Right Association Ltd (1973) 129 CLR 99; (1973) 47 ALJR 526; [1973] HCA 36 - CGU Workers Compensation (NSW) Ltd v Ascom Service Automation Australia) Pty Ltd [2005] NSWSC 747 - Donaldson v Natural Springs Australia Limited [2015] FCA 498 - Electricity Generation Corp v Woodside Energy Ltd (2014) 251 CLR 640; (2014) 306 ALR 25; (2014) 88 ALJR 447; [2014] HCA 7 - Mount Bruce Mining Pty Ltd v Wright Prospecting Pty Ltd (2015) 256 CLR 104; (2015) 325 ALR 188; [2015] HCA 37 - Re DS Millard & Son Pty Ltd (1997) 24 ACSR 71 - Re HIH Services Pty Ltd (in liq) [2012] NSWSC 1188 - Re Hawden Property Group Pty Ltd (In Liq) (2018) 125 ACSR 355; [2018] NSWSC 481 - Toll (FGCT) Pty Ltd v Alphapharm Pty Limited (2004) 219 CLR 165; [2004] HCA 52 Category: Principal judgment Parties: Young Fruitgrowers Cool Stores Rural Co-Operative Society Ltd (in liq) (First Plaintiff) Steven Priest in his capacity as Liquidator of the Young Fruitgrowers Cool Stores Rural Co-Operative Society Ltd (in liq) (Second Plaintiff) Representation: Counsel: B Douglas-Baker (Plaintiffs)