Debis Financial Services (Aust) Pty Ltd v Allied Bellambi Collieries Pty Ltd [1999] NSWSC 936

New South Wales Supreme Court CITATION : Debis Financial Services (Aust) Pty Ltd v Allied Bellambi Collieries Pty Ltd [1999] NSWSC 936 CURRENT JURISDICTION : Equity FILE NUMBER(S) : 3669/99 HEARING DATE(S) : 13 September 1999 JUDGMENT DATE : 13 September 1999

Debis Financial Services (Australia) Pty Limited (P) Allied Bellambi Collieries Pty Limited (Receivers Appointed) (Voluntary Administrator Appointed) (D1) PARTIES : Sandwork Pty Limited (Voluntary Administrator Appointed) (D2) Q Mining Systems Pty Limited (Voluntary Administrators Appointed) (D3) Gregory James Robertson in his capacity as Administrator of Allied Bellambi Collieries Pty Ltd & Sandwork Pty Limited (Voluntary Administrator Appointed) (D4) JUDGMENT OF : Hamilton J

Miss M Wilson (solicitor) (P) COUNSEL : R S Angyal (D1, 2 & 4) No appearance (D3) Clayton Utz (P) SOLICITORS : Andersen Legal (D1, 2 & 4) No appearance (D3) CATCHWORDS : CORPORATIONS [182] - Voluntary administration - Protection of company property - Secured creditor - Application to take possession of property under s 440C - Meaning of "in the possession of" - Remaining duration of administration short - Relevant considerations. ACTS CITED : Corporations Law s 440C CASES CITED : Debis Financial Services (Aust) Pty Ltd v Allied Bellambi Collieries Pty Ltd [1999] NSWSC 935 DECISION : Application for leave to take possession refused.

IN THE SUPREME COURT OF NEW SOUTH WALES EQUITY DIVISION

HAMILTON J MONDAY, 13 SEPTEMBER 1999

3669/99 DEBIS FINANCIAL SERVICES (AUSTRALIA) PTY LIMITED v ALLIED BELLAMBI COLLIERIES PTY LIMITED (RECEIVERS APPOINTED) (VOLUNTARY ADMINISTRATOR APPOINTED) & ORS