In the matter of Iconic Constructions Australia (NSW) Pty Ltd [2023] NSWSC 3

Supreme Court New South Wales

Medium Neutral Citation: In the matter of Iconic Constructions Australia (NSW) Pty Ltd [2023] NSWSC 3 Hearing dates: 8-9 December 2022 Date of orders: 31 January 2023 Decision date: 31 January 2023 Jurisdiction: Equity - Commercial List Before: Williams J Decision: See orders at [96]. Catchwords: RESTITUTION – unjust enrichment – unauthorised withdrawals from company bank account – company's claim for restitution against defendants who withdrew those funds CORPORATIONS LAW – voidable transactions – insolvent and uncommercial transactions – defence under Corporations Act 2001 (Cth), s 588FG(1) Legislation Cited: Civil Procedure Act 2005 (NSW) s 100 Corporations Act 2001 (Cth) ss 9, 91, 137H, 182, 286, 513A, 588E, 588FB, 588FC, 588FDB, 588FE, 588FF, 588FG Cases Cited: Australia and New Zealand Banking Group Limited v Westpac Banking Corporation (1988) 164 CLR 662; (1998) 62 ALJR 292; (1988) 78 ALR 157; [1998] HCA 17 Fistar v Riverwood Legion and Community Club Ltd (2016) 91 NSWLR 732; [2016] NSWCA 81 Great Investments Ltd v Warner (2016) 243 FCR 516; (2016) 335 ALR 542; (2016) 114 ACSR 33; [2016] FCAFC 85 Lan v Kaymet Corp Pty Ltd [2017] NSWCA 52 Miraki v Griffith (2021) 106 NSWLR 280; [2021] NSWCA 263 Twigg v Twigg (2022) 402 ALR 119; [2022] NSWCA 68 Texts Cited: Mason & Carter's Restitution Law in Australia (4th ed, 2021) Category: Principal judgment Parties: Michael John Morris Smith (First Plaintiff) Iconic Constructions Australia (NSW) Pty Ltd (Second Plaintiff) Mr M El-Sheikh (First Defendant) Mr K El-Chiekh (Third Defendant) Representation: Counsel: Mr D Allen (Plaintiffs) Mr M El-Sheikh (Litigant in Person) (First Defendant) Mr K El-Chiekh (Litigant in Person) (Third Defendant)