Grain Technology Australia Limited v Rosewood Research Pty Ltd (No 5) [2023] NSWSC 1141

Supreme Court New South Wales

Medium Neutral Citation: Grain Technology Australia Limited v Rosewood Research Pty Ltd (No 5) [2023] NSWSC 1141 Hearing dates: 15, 18 September 2023 Date of orders: 20 September 2023 Decision date: 20 September 2023 Jurisdiction: Equity - Duty List Before: McGrath J Decision: See [70] Catchwords: CORPORATIONS — practice and procedure — application by Court Appointed Official Receiver and Manager (Receiver) for order that the receiver is justified in accepting terms of settlement contained in a Deed of Settlement and Release — where settlement involves dismissal of main proceedings and appeal proceedings — in circumstances where proceedings are complex, long running and hard fought involving mutual releases between the parties — HELD — Receiver justified in accepting the terms of settlement Legislation Cited: Corporations Act 2001 (Cth) Court Suppression and Non-publication Orders Act 2010 (NSW) Supreme Court Act 1970 (NSW) Cases Cited: Air Express Ltd v Ansett Transport Industries (Operations) Pty Ltd (1981) 146 CLR 249 ANZ Banking Group Ltd v Karam (2005) 64 NSWLR 149; [2005] NSWCA 344 Application of Macedonian Orthodox Church St Petka Inc [2023] NSWSC 918 Coshott v Principal Strategic Options Pty Ltd [2004] FCAFC 50 Grain Technology Australia Ltd v Rosewood Research Pty Ltd (No 2) [2019] NSWSC 1744 Grain Technology Australia Ltd v Rosewood Research Pty Ltd (No 3) [2023] NSWSC 238 Grain Technology Australia Ltd v Rosewood Research Pty Ltd (No 4) [2023] NSWSC 822 Horsell International Pty Ltd v Divetwo Pty Ltd [2013] NSWCA 368 In the matter of Gondon Five Pty Limited and Cui Family Asset Management Pty Limited [2019] NSWSC 469 Karam v ANZ Banking Group Ltd [2001] NSWSC 709 Mariconte v Batiste (2000) 48 NSWLR 724; [2000] NSWSC 288 Our Town FM Pty Ltd v Australian Broadcasting Tribunal (1987) 16 FCR 465; [1987] FCA 479 Shanmugathaas & Anor v Paramanirupan & Ors [2019] NSWSC 1219 Southern Cross Community Healthcare Pty Ltd v Chief Commissioner of State Revenue [2021] NSWSC 1317 Warburton v County Construction (NSW) Pty Ltd [2022] NSWSC 941 Category: Principal judgment Parties: Grain Technology Australia (ACN 160 044 502) (First Plaintiff) Raymond Bruce Schwartz (Second Plaintiff) Manildra Flour Mills Pty Ltd (Third Plaintiff) Bakers Delight Holdings Ltd (ACN 052 528 202) (Fourth Plaintiff) Rosewood Research Pty Ltd (Official Receiver and Manager Appointed) (ACN 071 129 943) (First Defendant) Pathway Properties Pty Ltd (Official Receiver and Manager Appointed) (ACN 119 758 879) (Second Defendant) Asia Pacific Technologies Pty Ltd (Official Receiver and Manager Appointed) (ACN 084 151 048) (Third Defendant) Attorney General of NSW (Fourth Defendant) Representation: Counsel: L Menzies (Plaintiffs) P Taylor SC with D Barlin (Court Appointed Official Receiver and Manager of the First to Third Defendants) A J Macauley (Former Fourth to Sixth Defendants)