In the matter of Press Australia Pty Ltd (receivers and managers appointed) (controllers appointed) in its own capacity and as trustee for Lassab Trust [2024] NSWSC 1219

Supreme Court New South Wales

Medium Neutral Citation: In the matter of Press Australia Pty Ltd (receivers and managers appointed) (controllers appointed) in its own capacity and as trustee for Lassab Trust [2024] NSWSC 1219 Hearing dates: 20 September 2024 Date of orders: 27 September 2024 Decision date: 27 September 2024 Jurisdiction: Equity - Corporations List Before: Black J Decision: Directions And declarations made as to operation of security documents. Catchwords: CORPORATIONS – Receivership – Application for directions and declarations – Whether proposed course of action is authorised by security documents. PRACTICE AND PROCEDURE – Application pursuant to s 500(2) of the Corporations Act 2001 (Cth) for leave to proceed against First to Fifth Defendants – Where claim cannot be resolved by the lodgement of a proof of debt in a liquidation. Legislation Cited: - Corporations Act 2001 (Cth), ss 424, 500(2) - Supreme Court Act 1970 (NSW), s 75 Cases Cited: - Ankar Pty Ltd v National Westminster Finance (Australia) Ltd (1987) 162 CLR 549; [1987] HCA 15 - Andar Transport Pty Ltd v Brambles Ltd (2004) 217 CLR 424; [2004] HCA 28 - Catholic Metropolitan Cemeteries Trust v Attorney General of New South Wales [2024] NSWCA 30 - Cherry v Steele-Park (2017) 96 NSWLR 548; [2017] NSWCA 295 - Coghlan v S H Lock (Aust) Ltd (1987) 8 NSWLR 88 - CSR Ltd v Adecco (Australia) Pty Ltd [2017] NSWCA 121 - Heenan, Ruby Apartments Pty Ltd (in liq) v Ralan Paradise No 1 Pty Ltd (in liq) (No 2) (2021) 156 ACSR 86; [2021] FCA 1314 - Korda v Silkchime Pty Ltd (2010) 243 FLR 269; [2010] WASC 155 - Meldov Pty Ltd v Bank of Queensland [2015] NSWSC 378 - Nashco Pty Ltd v Yang [2022] NSWCA 137 - North City Developments Pty Ltd; Ex Parte Walker (1990) 20 NSWLR 286 - Olympic Holdings Pty Ltd v Windslow Corporation Pty Ltd (in liq) (2008) 36 WAR 342; [2008] WASCA 80 - Re Direct Acceptance Corporation Ltd (Receiver Appointed) (in Liquidation) (2019) 136 ACSR 245; [2019] NSWSC 395 - Re DSG Holdings Australia Pty Ltd [2020] NSWSC 644 - Re Xpress Fuel Australia Pty Ltd (Receivers and Managers Appointed) (Administrator Appointed) [2023] NSWSC 692 - Toll (FGCT) Pty Ltd v Alphapharm Pty Ltd (2004) 219 CLR 165; [2004] HCA 52 - ZOLL Medical Australia, in the matter of Cardiac Defibrillators Australia Pty Ltd (in liq) v Cardiac Defibrillators Australia Pty Ltd (in liq) [2022] FCA 167 Category: Principal judgment Parties: Barry Kogan and Katherine Sozou in their capacity as joint and several receivers and managers of Press Australia Pty Ltd (recs and mgs appointed) (in liq) (controllers apptd) in its own capacity and as trustee for Lassab Trust (Plaintiff) Press Australia Pty Ltd (recs and mgs apptd) (in liq) (controllers apptd) in its own capacity and as trustee for Lassab Trust (First Defendant) Xpress Fuel Australia Pty Ltd (recs and mgrs apptd) (in liq) (Second Defendant) Xpress Group Australia Pty Ltd (recs and mgrs apptd) (in liq) (Third Defendant) Xpress Transport Solutions Pty Ltd (recs and mgrs apptd) (in liq) (Fourth Defendant) Press Ag Pty Ltd (in liq) (Fifth Defendant) National Australia Bank Limited (Sixth Defendant) Representation: Counsel: J Hutton SC/S Gerber (Plaintiff)