New Cap Reinsurance Corporation Holdings Limited (ARBN 076 137 249) and the Corporations Law: [2001] NSWSC 835

New South Wales Supreme Court

CITATION : New Cap Reinsurance Corporation Holdings Limited (ARBN 076 137 249) and the Corporations Law: [2001] NSWSC 835 CURRENT JURISDICTION: Equity FILE NUMBER(S) : SC 5128/99 HEARING DATE(S) : 30/05/01, 31/05/01, 09/07/01 JUDGMENT DATE : 31 October 2001

PARTIES : New Cap Reinsurance Corporation Holdings Limited (ARBN 076 137 249) and the Corporations Law John Raymond Gibbons (Plaintiff) JUDGMENT OF : Santow J

B COLES, QC/ D R PRITCHARD (Plaintiff) S EPSTEIN, SC (ASC P/L & 4 Ors (Mr Saville; Saville Group)) COUNSEL : M A PEMBROKE, SC (Macquarie Equities/ Macquarie Equity Markets Ltd) G M COLMAN (John Trowbridge Consultant P/L) D G MARJORIBANKS (solicitor) (Phillips Fox - William Peck) S ROWE (solicitor) (PWC (Elsa Payne/ Pat Murray) Henry Davis York (Plaintiff) Deacons (ASC P/L & 4 Ors (Mr Saville; Saville Group)) SOLICITORS : Mallesons Stephen Jaques (Macquarie Equities/ Macquarie Equity Markets Ltd) Clayton Utz (John Trowbridge Consultant P/L) Freehills (Phillips Fox - William Peck) Blake Dawson Waldron (PWC (Elsa Payne/ Pat Murray) CATCHWORDS : CORPORATIONS - Access sought by creditor of company in liquidation to documents produced to the liquidator for examinations for purposes of proceedings to be brought by that creditor against third parties associated with the company - Basis for such access as a matter of statutory power or discretion - relevant considerations. - WORDS AND PHRASES - Meaning of "books of the company" in case of a company in liquidation. Australian Securities and Investments Commission Act s12DA Companies Code LEGISLATION CITED : Corporations Law s436(1); s446A; s477(6); s479(3); s486; s511; s542; s596A; s596B; s596E; s596F; s597; s597(14A); s995 Corporate Law Reform Act 1992 Supreme Court Rules Pt 36 r 12 Australian Securities Commission v Marlborough Goldmines Ltd (1993) 11 ACLC 370 Bell Group NV v Woodings & Anor (1996) 14 ACLC 1,439 Re BPTC (in liq) (1993) 10 ACSR 756 BPTC Limited (No. 4) (1993) 11 ACLC 615 Douglas-Brown v Furzer (1994) 13 ACSR 184 CASES CITED : Re Ezishop.net; Sims v Stone (2001) 38 ACSR 349 Flanders v Beatty & Anor (1995) 16 ACSR 324 Re GPI Leisure Corporation Ltd (in liq) (1994) 15 ACSR 282 Home Office v Harman [1983] 1 AC 280 New Zealand Steel (Australia) Pty Limited v Burton (1994) 13 ACSR 610 Nut Trading Co (Aust) Pty Limited v KKL (Kangaroo Line) Pty Ltd (1997) 25 ACSR 580 Sherlock & Vagrand Pty Ltd (in liq) v Permanent Trustee Australia Ltd (1996) 22 ACSR 16 DECISION : Access granted.