Butterell v The Douglas Group Pty Ltd [2000] NSWSC 942

Reported Decision : [2000] 35 ACSR 398 [2000] 18 ACLC 784

New South Wales Supreme Court

CITATION : Butterell v The Douglas Group Pty Ltd [2000] NSWSC 942 CURRENT JURISDICTION: Equity Division FILE NUMBER(S) : SC 3839/99 HEARING DATE(S) : 02/08/2000 JUDGMENT DATE : 10 October 2000

Arthur William Butterell (P) PARTIES : The Douglas Group Pty Limited (D1) MNC Holdings Pty Limited (D2) William John Seery and Ada Seery (D3) JUDGMENT OF : Young J

F Gleeson (P) COUNSEL : C Gee QC and B Larkin (D1) J Duncan (D2) T Alexis and T Hudson (D3) Phillips Fox (P) SOLICITORS : Grahame Goldberg Partners (D1) Addisons (D2) Cole & Butler (D3) CATCHWORDS : CORPORATIONS [267]- Winding Up- Ranking of claims- Mutual insurance company- How reinsurance proceeds dealt with. LEGISLATION CITED : Corporations Law, ss 511, 562A Law Reform (Miscellaneous Provisions) Act 1946, s 6 Re Babbage [1936] SASR 172 Butterell v Docker Smith Pty Ltd (1997) 23 ACSR 149 Cambridge Credit Corporation Ltd v Lissenden (1987) 8 NSWLR 411 Capita Financial Group Ltd v Triden Properties Ltd (Cole J 6/9/1993) Ceric v CE Health Underwriting & Insurance (Aust) Pty Ltd (1994) 122 FLR 123 Chan v Cresdon Pty Ltd (1989) 168 CLR 242 Commonwealth Bank of Australia v Butterell (1994) 14 ACSR 343 Re Deighton & Harris' Contract [1898] 1 Ch 458 Re Dominion Insurance Co of Australia Ltd [1980] 1 NSWLR 271 CASES CITED : Re Douglas (1909) 9 SR (NSW) 269 Elmslie v Federal Commissioner of Taxation (1993) 46 FCR 576 FAI General Insurance Co Ltd v McSweeney (1997) 73 FCR 379 Federal Commissioner of Taxation v Energy Resources of Australia Ltd (1994) 54 FCR 25 Kiwi Brands Pty Ltd v Commissioner of Taxation (1998) 90 FCR 64 National Mutual Fire Insurance Co Ltd v Commonwealth of Australia [1981] 1 NSWLR 400 Re Palmdale Insurance Ltd [1986] VR 439 Re Saltergate Insurance Co Ltd (No 3) (1984) 2 ACLC 740 Schipp v Cameron (Einstein J 9/7/1998) Re Universal Distributing Co Ltd (1933) 48 CLR 171 DECISION :