Yusen Daly Smith International Pty Ltd v Smith [2000] NSWSC 853

New South Wales Supreme Court

CITATION : Yusen Daly Smith International Pty Ltd v Smith [2000] NSWSC 853 CURRENT JURISDICTION: Equity FILE NUMBER(S) : SC 2400/97; 1913/95 HEARING DATE(S) : 12 July 2000 JUDGMENT DATE : 30 August 2000

2400/97 Yusen Daly Smith International Pty Ltd (In Liq) (P1) Richard Graham Kent Binet (P2) Thomas Edwin Curtis Smith (D1) PARTIES : John D Green (D2) 1913/95 Thomas Edwin Curtis Smith (P) Australia & New Zealand Banking Group Limited (D1) Richard Graham Kent Binet (D2) Yusen Daly Smith International Pty Limited (In Liq) (D3) JUDGMENT OF : Hamilton J

2400/97 A W Street SC (P1 & 2) R Cameron (D1) COUNSEL : P Harrison, Solicitor (D2) 1913/95 R Cameron (P) No appearance (D1) A W Street SC (D2 & 3) 2400/97 Blake Dawson Waldron (P1 & 2) McLaughlin & Riordan (D1) SOLICITORS : Kemp Strang (D2) 1913/95 McLaughlin & Riordan (P) No representation (D1) Blake Dawson Waldron (D2 & 3) CATCHWORDS : CORPORATIONS [189] - Receivers, managers and controllers - Appointment - By creditors - Whether party appointing may rely on ground not relied on at time of appointment to justify validity of appointment - Whether receiver may be appointed on ground of winding up where no sum presently owing to appointor. LEGISLATION CITED : Supreme Court Act 1970 s 94 Drewry v Barnes (1826) 3 Russ 94; 38 ER 511 Kendle v Melsom (1998) 193 CLR 46 CASES CITED : McMahon v State Bank of NSW (1990) 8 ACLC 315 Retail Equity Pty Ltd v Custom Credit Corporation Ltd (1991) 4 ACSR 23 Yusen Daly Smith International Pty Ltd v Smith [1999] NSWSC 450 Yusen Daly Smith International Pty Ltd v Smith [2000] NSWSC 498 DECISION : Appointment of receiver valid.