Grossman v E. Katz Manufacturing Jewellers (ACT) Pty Ltd [2004] NSWSC 1224

Reported Decision : 52 ACSR 198

New South Wales Supreme Court

CITATION : Grossman v E. Katz Manufacturing Jewellers (ACT) Pty Ltd [2004] NSWSC 1224 HEARING DATE(S) : 13/12/04 JUDGMENT DATE : 15 December 2004

JURISDICTION: Equity Division Corporations List JUDGMENT OF : Barrett J DECISION : Direction to be made as to entitlement of provisional liquidator to remuneration out of trust assets

CATCHWORDS : CORPORATIONS - provisional liquidator - company's sole activity is trusteeship of trading trust - whether provisional liquidator entitled to remuneration out of trust assets - whether court may give direction to provisional liquidator LEGISLATION CITED : Corporations Act 2001 (Cth), s.473(2) Newmont Pty Ltd v Laverton Nickel NL (1978) 3 ACLR 830 Octavo Investments Pty Ltd v Knight (1979) 144 CLR 360 Re Application of Sutherland (2004) 50 ACSR 297 Re Berkeley Applegate (Investment Consultants) Ltd [1989] 1 Ch 32 Re Eastern Capital Futures Ltd (1989) 5 BCLC 223 Re G B Nathan & Co Pty Ltd (1991) 24 NSWLR 674 CASES CITED : Re Oakleigh Acquisitions Pty Ltd [2001] WASC 230 Re Suco Gold Pty Ltd (1983) 33 SASR 99 Re Sutherland and French Caledonia Travel Service Pty Ltd (2003) 59 NSWLR 361 Re United Medical Protection Ltd (No 3) [2002] NSWSC 488 Re Universal Distributing Co Ltd (1933) 48 CLR 171 Shirlaw v Taylor (1991) 31 FCR 222 13 Coromandel Place Pty Ltd v CL Custodians Pty Ltd (1999) 30 ACSR 377 Vacuum Oil Pty Ltd v Wiltshire (1945) 72 CLR 319 Linda Ann Grossman - Plaintiff PARTIES : E. Katz Manufacturing Jewellers (ACT) Pty Limited - First Plaintiff Daniel Frank Katz - Second Defendant Christopher John Palmer - Applicant FILE NUMBER(S) : SC 5888/04 COUNSEL : Mr A.P.P. Lo Surdo - Applicant SOLICITORS : Norton White Lawyers - Applicant