In the matter of Black Lab Design Pty Ltd (in liq) as trustee for the Black Lab Unit Trust [2023] NSWSC 661

Supreme Court New South Wales

Medium Neutral Citation: In the matter of Black Lab Design Pty Ltd (in liq) as trustee for the Black Lab Unit Trust [2023] NSWSC 661 Hearing dates: 15 June 2023 Date of orders: 15 June 2023 Decision date: 15 June 2023 Jurisdiction: Equity - Corporations List Before: Black J Decision: Remuneration approved in capacity as liquidator and receiver and manager; future remuneration as receiver and manager approved. Catchwords: CORPORATIONS – Winding up – Remuneration – Where liquidator of a Company and receiver and manager of trust property – Application for approval of incurred remuneration as liquidator– Application for incurred and future remuneration as receiver and manager of trust property – Whether remuneration claimed is fair and reasonable Legislation Cited: Corporations Act 2001 (Cth) Insolvency Practice Schedule (Corporations), ss 60-5, 60-10, 60-12 Supreme Court (Corporations) Rules 1999 (NSW), r 9.2 Cases Cited: - Australian Securities and Investments Commission v Marco (No 9) (2021) 399 ALR 735; 156 ACSR 56; [2021] FCA 1306 - Ide v Ide (2004) 184 FLR 44; [2004] NSWSC 751 - Knox v Nile [2022] NSWSC 638 - Re Banksia Securities Ltd (in liq) (recs and mgrs apptd) [2017] NSWSC 540 - Re Banksia Securities Ltd (in liq) (recs and mgrs. apptd) [2018] NSWSC 229 - Re Ferndale Holdings Pty Ltd (admins apptd) (recs and mgrs apptd) [2020] NSWSC 901 - Re Metal Storm Ltd [2015] NSWSC 1699 - Re Mudgee Dolomite & Lime Pty Ltd [2021] NSWSC 984 - Re Sakr Nominees Pty Ltd [2017] NSWSC 668 - Re Wine National Pty Ltd [2016] NSWSC 4 Category: Principal judgment Parties: Timothy James Cook in his capacity as the liquidator of Black Lab Design Pty Ltd (in liq) as trustee for the Black Lab Unit Trust (First Plaintiff) Black Lab Design Pty Ltd (in liq) as trustee for the Black Lab Unit Trust (Second Plaintiff) Representation: Counsel: S Scott (Applicants/Plaintiffs)