PNR International Pty Ltd v CII Group Pty Ltd [2024] NSWSC 701

Supreme Court New South Wales

Medium Neutral Citation: PNR International Pty Ltd v CII Group Pty Ltd [2024] NSWSC 701 Hearing dates: 7 June 2024 Date of orders: 7 June 2024 Decision date: 07 June 2024 Jurisdiction: Equity - Corporations List Before: McGrath J Decision: Leave granted nunc pro tunc to the provisional liquidators to enter into relevant agreements on behalf of the companies (see [43]). Catchwords: CORPORATIONS — winding up — liquidators — powers of court-appointed provisional liquidators — where provisional liquidators have entered into contracts on behalf of the companies — where those agreements have no fixed terms or involve ongoing obligations — where court approval under s 477(2B) is sought nunc pro tunc — where there is no evidence of error of law, bad faith or impropriety — where the transactions are commercially reasonable and serve the proper and expeditious liquidation and winding up of the companies Legislation Cited: Corporations Act 2001 (Cth), s 477 Cases Cited: Alfonso, in the matter of Pinnacle Fire Protection Pty Ltd (in liq) v Woods (2021) 157 ACSR 217; [2021] FCA 1402 In the matter of Kevin Jacobsen Pty Limited (in liquidation) [2016] NSWSC 538 In the matter of Milgerd Nominees Pty Ltd [2019] NSWSC 311 In the matter of One.Tel Limited [2014] NSWSC 457; (2014) 99 ACSR 247 Category: Principal judgment Parties: Andrew Sallway and Duncan Clubb in their capacity as joint and several provisional liquidators of Crown West End Pty Ltd (ACN 616 219 722) and others (Provisional Liquidators)

Applicants: Crown West End Pty Ltd (provisional liquidators appointed) (ACN 616 219 722) (Thirtieth Defendant) Crown W Pty Ltd (provisional liquidators appointed) (ACN 155 463 237) (Fourteenth Defendant) Crown Landmark Pty Ltd (provisional liquidators appointed) (ACN 138 193 608) (Twenty-Sixth Defendant) Representation: Counsel: M Rose (Provisional Liquidators/Applicants)