Re United Medical Protection of Queensland [2004] NSWSC 14

New South Wales Supreme Court

CITATION : Re United Medical Protection of Queensland [2004] NSWSC 14 HEARING DATE(S) : 29 November 2004 JUDGMENT DATE : 2 December 2004 JURISDICTION: Equity JUDGMENT OF : Austin J DECISION : Orders made for winding up and curing deficiencies of notice, and direction given to liquidators

CATCHWORDS : CORPORATIONS - company limited by guarantee - winding up on just and equitable ground - relevant considerations - whether constitutional provision permitting distribution of surplus assets to a body having the same objects applies where the recipient body is also a member and the constitution prohibits distributions to members - related party benefits - exception for benefits on reasonable arm's length terms - circumstances in which direction to liquidator is appropriate - deficiencies of notice - relevant considerations for making of order under s 1322(4) LEGISLATION CITED : Corporations Act 2001 (Cth) ss 150, 208, 210, 224, 228, 229, 461(1)(k), 479(3), 491, 494, 1322 Brightwell v RFB Holdings Pty Ltd (in liq) (2003) 44 ACSR 186 Charlton v Baber (2004) 47 ACSR 31 CIC Insurance Ltd (prov liq apptd) v Hannan & Co Pty Ltd (2001) 38 ACSR 245 Coleambally Irrigation Mutual Co-operative Ltd v Commissioner of Taxation (2004) 210 ALR 475 Kokotovich Constructions Pty Ltd v Wallington (1995) 17 ACSR 478 Lunn v Cardiff Coal Company (2002) 43 ACSR 649 National Australia Bank Ltd v Market Holdings Pty Ltd (2000) 50 NSWLR 465 National Australia Bank Ltd v Market Holdings Pty Ltd (in liq) (2001) 37 ACSR 629 Re Allebart Pty Ltd (in liq) [1971] 1 NSWLR 24 Re Australian Home Finance Pty Ltd [1956] VLR 1 Re Contract Corp (Gooch's case) (1872) LR 7 Ch App 207 CASES CITED : Re GB Nathan & Co (in liq) Pty Ltd (1991) 5 ACSR 673 Re Intercontinental Properties Pty Ltd (in liq) (1977) 2 ACLR 488 Re Mineral Securities Australia Ltd (in liq) [1973] 2 NSWLR 207 Re Spedley Securities Ltd (in liq) (1991) 9 ACSR 83 Re Standard Insurance Co Ltd (1963) 80 WN (NSW) 1355 Re Tavistock Iron Works Co (1871) 24 LT 605 Re United Medical Protection Ltd & Ors (2002) 41 ACSR 623 Re West Australian Gem Explorers Pty Ltd (1994) 13 ACSR 104 Sanderson v Classic Car Insurances Pty Ltd (1985) 10 ACLR 115 Stapp v Surge Holdings Pty Ltd (1999) 31 ACSR 35 Talbot v NRMA Holdings Ltd (1996) 21 ACSR 577 Thomas v McKay Investments Pty Ltd (1996) 22 ACSR 294 PARTIES : United Medical Protection of Queensland Limited (Provisional Liquidators Appointed) (P) David John Frank Lombe and John Lethbridge Greig (A) FILE NUMBER(S) : SC 4507/02 COUNSEL : Justin Gleeson SC with Robert Dick (P/A) SOLICITORS : TressCox (P/A)