Re Nardell Coal Corporation Pty Limited [2004] NSWSC 281

Reported Decision : 49 ACSR 110 (2004) 22 ACLC 652

New South Wales Supreme Court

CITATION : Re Nardell Coal Corporation Pty Limited [2004] NSWSC 281 HEARING DATE(S) : 29/03/04 JUDGMENT DATE : 7 April 2004 JURISDICTION: Equity JUDGMENT OF : Austin J DECISION : Application adjourned, to permit applicants to provide additional evidence.

CATCHWORDS : CORPORATIONS - liquidators in creditors' voluntary winding up appoint themselves as voluntary administrators, with leave - deed of company arrangement executed - whether execution of a deed automatically terminates winding up - whether Court should terminate winding up under s 482 - whether deed releases debts owing to secured and related party creditors - relevance of potential tax losses LEGISLATION CITED : Corporations Act 2001 (Cth), ss 435C, 436B, 437A, 437C, 439C, 444D, 444G, 445C, 445E, 446A, 447D, 479(3), 482, 491, 494 Bovis Lend Lease Pty Ltd v Wily (2003) 45 ACSR 612 Dean-Willcocks re Yeshiva Properties No 1 Pty Ltd [2003] NSWSC 1252 El Fahkri v Elfah Pty Ltd [2002] FCA 1469 Emanuele v Australian Securities Commission (1996) 14 ACLC 244 GIO Workers Compensation (NSW) Ltd v Advance International (Australia) Pty Ltd [2002] NSWSC 261 Mercy & Sons Pty Ltd v Wanari Pty Ltd (2000) 35 ACSR 70 CASES CITED : Parkes Leagues Club Co-op Ltd [2004] NSWSC 1 Re Data Homes Pty Ltd [1972] 2 NSWLR 22 Re Depsun Pty Ltd (1994) 13 ACSR 644 Re GB Nathan & Co Pty Ltd (in liq) (1991) 24 NSWLR 674 Re Intag International Ltd [1999] NSWSC 645 Re Nature Springs Pty Ltd (1994) 13 ACSR 50 Sutherland v Rahme Enterprises Pty Ltd [2003] NSWSC 673 PARTIES : Nardell Coal Corporation Pty Ltd (Receivers and Managers Appointed) (In Liquidation) (Subject to A Deed of Company Arrangement) [P1] Scott Cameron Turner and David Patrick Watson [P2] FILE NUMBER(S) : SC 1318/2004 COUNSEL : P M Wood with M Hirschern (Ps) SOLICITORS : Henry Davis York (Ps)