Silbermann v One.Tel Ltd [2002] NSWSC 295

Reported Decision : (2002) 20 ACLC 846

New South Wales Supreme Court

CITATION : Silbermann v One.Tel Ltd [2002] NSWSC 295 FILE NUMBER(S) : SC 4258/01 HEARING DATE(S) : 08/02/02, 11/04/02,11/04/02 JUDGMENT DATE : 15 April 2002

PARTIES : Mark Silbermann and Others - Plaintiff One.Tel Ltd (in liquidation) - Defendant JUDGMENT OF : Gzell J

LOWER COURT Supreme Court (Master) JURISDICTION : LOWER COURT 4258/01 FILE NUMBER(S) : LOWER COURT Master Macready JUDICIAL OFFICER :

COUNSEL : J L Trew QC with I D Faulkner for the plaintiffs H K Insall SC for the defendant SOLICITORS : Piper Alderman Lawyers for the plaintiffs Freehills Lawyers for the defendant CATCHWORDS : Corporations - leave to proceed against company in liquidation - appeal from Master - proceedings to vary contracts as unfair before Industrial Relations Commission - indemnity sought for directors' liability to credit card companies for company expenses - not provable in the winding up - meaning of future "claims" - set-offs of credit card company obligations to company in liquidation. Corporations Act 2001 (Cth) Supreme Court Act 1970 (NSW) LEGISLATION CITED : Industrial Relations Act 1996 (NSW) Bankruptcy Act 1966 (Cth) Corporate Law Reform Act 1992 (Cth) Do Carmo v Ford Excavations Pty Ltd [1981] 1 NSWLR 409 Morrison v Judd (NSWCA), 10 October 1995,Unreported House v The King (1936) 55 CLR 499 at 505 Madden v Fisher [2001] NSWSC 535 CASES CITED : Fisher v Madden [2002 NSWCA 28 Something Better Pty Ltd v Pyramid Building Society (in liquidation) [1996] 2 VR 352 at 353-355, 367-368, 370-371 Pyramid Building Society (in liquidation) v Terry (1996-1997) 189 CLR at 189, 193-194 Majik Markets Pty Ltd v Brake and Service Centre Drummoyne Pty Ltd (1992) 28 NSWLR 443 at 461 Visalli v Southwell (1988) 12 NSWLR 502 DECISION : See par 22.