CENTURIAN CONSTRUCTIONS PTY LTD v BECA DEVELOPMENTS PTY LTD (IN LIQUIDATION) and PSELLETES v BECA DEVELOPMENTS PTY LTD (IN LIQUIDATION) [1999] NSWCA 457

New South Wales Court of Appeal CITATION : CENTURIAN CONSTRUCTIONS PTY LTD v BECA DEVELOPMENTS PTY LTD (IN LIQUIDATION) and PSELLETES v BECA DEVELOPMENTS PTY LTD (IN LIQUIDATION) [1999] NSWCA 457 FILE NUMBER(S) : CA 40067/98; 40070/98 HEARING DATE(S) : 1 October 1999 JUDGMENT DATE : 10 December 1999

Centurian Constructions Pty Ltd PARTIES : Beca Developments Pty Ltd (In Liquidation) Gary and Malama Pselletes JUDGMENT OF : Priestley JA at 1; Sheller JA at 5; Stein JA at 54

LOWER COURT JURISDICTION : Supreme Court - Equity Division LOWER COURT FILE NUMBER(S) : 1600/96; 1513/92 LOWER COURT JUDICIAL OFFICER : Young J

COUNSEL : Appellant - G Pselletes (In person) Respondent - J Chippindall SOLICITORS : Appellant - G Pselletes Respondent - Michael Sillar CATCHWORDS : BANKRUPTCY - liquidation - family companies - mutual dealings - set-off - limitation on debt Bankruptcy Act 1966 Corporate Law Reform Act 1992 ACTS CITED : Corporations Law Limitation Act 1969 Supreme Court Act 1970 Akins v National Australia Bank (1994) 34 NSWLR 155 AMP Society v Specialist Funding Consultants Pty Ltd (1991) 24 NSWLR 326 Day & Dent Constructions Pty Ltd v North Australian Properties Pty Ltd (1982) 150 CLR 85 CASES CITED: Lord v Direct Acceptance Corporation Ltd (Receiver and Manager Appointed) (In Liquidation) (1993) 32 NSWLR 362 McDonnell & East Ltd v McGregor (1936) 56 CLR 50 Norton v Ellam (1837) 2 M & W 461; 150 ER 839 Sidney Raper Pty Ltd v Commonwealth Trading Bank of Australia (1975) 2 NSWLR 227 The Stage Club Ltd v Millers Hotels Pty Ltd (1981) 150 CLR 535 DECISION : No. 40067/98; Appeal dismissed with costs.; No. 40070/98; 1. Appeal allowed; 2. Set aside the judgment of Young J; 3. Dismiss the liquidator's notice of motion with costs; 4. Respondent to pay the appellants' costs of the appeal