In the matter of Baixin Group Pty Ltd (administrators appointed) [2022] NSWSC 88

Supreme Court New South Wales

Medium Neutral Citation: In the matter of Baixin Group Pty Ltd (administrators appointed) [2022] NSWSC 88 Hearing dates: 7 February 2022 Date of orders: 9 February 2022 Decision date: 09 February 2022 Jurisdiction: Equity - Corporations List Before: Williams J Decision: See paragraph [52]. Catchwords: CORPORATIONS – voluntary administration – deed of company arrangement – where corporation's sole business is as trustee of trust – where corporation's assets ae held as trustee and liabilities were incurred as trustee – where applicants appointed as voluntary administrators and deed administrators – where applicants also appointed as receivers and managers of trust assets – application for determination of remuneration as voluntary administrators, deed administrators and receivers and managers – inherent equitable jurisdiction to allow trustee's remuneration, costs and expenses to be paid out of trust assets – remuneration of court-appointed receivers – discharge and release of court-appointed receivers Legislation Cited: Corporations Act 2001 (Cth), s 420 Cases Cited: Harker-Mortlock v Commonwealth Bank of Australia [2019] NSWCA 56 In the matter of BBY Ltd (receivers and mgrs. apptd) (in liq) [2021] NSWSC 1299 In the matter of Double Bay Property Management Pty Ltd (in liq) [2021] NSWSC 996 In the matter of Houben Marine Pty Ltd (in liq) [2018] NSWSC 745 In the matter of JML Property Services Pty Ltd (in liq) [2018] NSWSC 1069 Inland Revenue Commissioners v Hoogstraten [1985] 1 QB 1077 Jones (liquidator) v Matrix Partners Pty Ltd; Re Killarnee Civil & Concrete Contractors Pty Ltd (in liq) (2018) 260 FCR 310; [2018] FCAFC 40 Parberry & ors (in their capacity as joint and several administrators of Trio Capital Limited (admins apptd) v ACT Superannuation Management Pty Ltd (2010) 79 ACSR 425; [2010] NSWSC 941 Re Fearndale Holdings Pty Ltd (in liq) (recs & mgrs apptd) [2020] NSWSC 901 Re Gondon Five Pty Ltd and Cui Family Asset Management Pty Ltd [2019] NSWSC 469 Re IMF Global Australia Ltd (in liq) (No. 2) [2012] NSWSC 1426 Re J & Lee Property Investment Group Pty Ltd (in liq) [2019] NSWSC 927 Re MINMXT Holdings Pty Ltd (in liq) [2017] NSWSC 156 Re North Food Catering Pty Ltd [2014] NSWSC 77 Re Say Enterprises Pty Ltd [2018] NSWSC 396 Category: Principal judgment Parties: Sule Arnautovic and Andrew John Spring in their capacity as Voluntary Administrators of Baixin Group Pty Ltd (administrators appointed) (First Plaintiffs/Applicant) Baixin Group Pty Ltd (administrators appointed) Representation: Counsel: Mr D Krochmalik (First Plaintiffs/Applicant)