In the matter of Peak Invest Pty Ltd (admins apptd); Five Islands Invest Pty Ltd (admins apptd), Surry Hills Pub Invest Pty Ltd (admins apptd) and Four by Four Investments Pty Ltd (admins apptd) [2021] NSWSC 1714

Supreme Court New South Wales

Medium Neutral Citation: In the matter of Peak Invest Pty Ltd (admins apptd); Five Islands Invest Pty Ltd (admins apptd), Surry Hills Pub Invest Pty Ltd (admins apptd) and Four by Four Investments Pty Ltd (admins apptd) [2021] NSWSC 1714 Hearing dates: 22 December 2021 Date of orders: 22 December 2021 Decision date: 22 December 2021 Jurisdiction: Equity - Corporations List Before: Black J Decision: Orders made appointing voluntary administrators as receivers and managers of the assets and undertakings of several trusts. Catchwords: CORPORATIONS — Receivers and managers — Appointment by court — Application by voluntary administrators of certain companies for appointment as receivers and managers of the assets and undertakings as to which those companies are or were trustees — Where such appointment is necessary for dealing with or realising relevant assets — Where trust beneficiaries seek appointment of new trustees to realise assets — Where appointment of voluntary administrators as receivers and managers would protect rights of indemnity and creditors interests. Legislation Cited: - Corporations Act 2001 (Cth), ss 420, 436A - Supreme Court Act 1970 (NSW), s 67 Cases Cited: - Gregorski Investments Pty Ltd (in liq) v 320 Nominees Pty Ltd as trustee of Gregorski Property Trust [2019] FCA 1400 - Re Double Bay Property Management Pty Ltd (in liq) [2020] NSWSC 203 - Re Glenvine Pty Ltd (in liq) [2020] NSWSC 866; BC202006157 - Re Stansfield DIY Wealth Pty Ltd (in liq) (2014) 291 FLR 17; (2014) 103 ACSR 401; [2014] NSWSC 1484 Category: Principal judgment Parties: Proceedings 2021/348287