NSW Caselaw
Supreme Court New South Wales
Medium Neutral Citation: In the matter of Allscope Concrete & Pumping Pty Ltd (in liq) [2024] NSWSC 1476 Hearing dates: 5 November 2024 Date of orders: 5 November 2024 Decision date: 05 November 2024 Jurisdiction: Equity - Corporations List Before: Black J Decision: Liquidator to submit orders to give effect to this judgment. Catchwords: CORPORATIONS – Whether transaction is an unreasonable-director related transaction under s 588FDA of the Corporations Act 2001 (Cth) – where director transferred relevant company funds to personal account – where the transfer caused detriment and had no corporate benefit to the company. Legislation Cited: Corporations Act 2001 (Cth), ss 468, 588FDA, 588FE, 588FF Cases Cited: - Alora Davies Developments 104 Pty Ltd (in liq) v Raphael [2024] NSWSC 547 - Crowe Maxwell v Frost (2016) 91 NSWLR 414; 111 ACSR 503; [2016] NSWCA 46 - Smith (in his capacity as liquidator of Action Paint Ball Games Pty Ltd) v Starke (No 2) (2015) 109 ACSR 1415; [2015] FCA 1119 - Vasudevan v Becon Constructions (Australia) Pty Ltd (2014) 97 ACSR 627; [2014] VSCA 14 Category: Principal judgment Parties: Stephen John Michell (as liquidator of AllScope Concrete & Pumping Pty Ltd (in liq)) (Plaintiff) Ali Youssef (First Defendant) Commonwealth Bank of Australia (Second Defendant) Representation: Counsel: K Kelly (Solicitor) (Plaintiff)
Solicitors: Hilton Bradley Lawyers (Plaintiff) File Number(s): 2024/358811
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