In the matter of ACN 003 671 387 and ACN 008 664 257 [2004] NSWSC 368

Reported Decision : 49 ACSR 443 (2004) 22 ACLC 901

New South Wales Supreme Court

CITATION : In the matter of ACN 003 671 387 and ACN 008 664 257 [2004] NSWSC 368 HEARING DATE(S) : 23 March & 19 April 2004 JUDGMENT DATE : 4 May 2004 JURISDICTION: Equity JUDGMENT OF : Austin J DECISION : Leave granted to enter into transactions; order for termination of winding up.

CATCHWORDS : CORPORATIONS - winding up - liquidator seeks leave to enter into transaction for his personal benefit - source of power to grant leave - whether leave should be granted - whether winding up should be terminated Corporations Act 2001 (Cth), ss 182, 183, 482 LEGISLATION CITED : Supreme Court Rules, Pt 1 r 8 Supreme Court (Corporations) Rules, r 7.10 Boardman v Phipps [1967] 2 AC 46 Brolrik Pty Ltd v Sambah Holdings Pty Ltd (2001) 40 ACSR 361 Christie v Edwards [1939] 1 DLR 158 Commissioner for the Corporate Affairs v Harvey [1980] VR 669 CASES CITED : Empire (Aust) Nominees Pty Ltd v Vince (2000) 35 ACSR 167 Mercy & Sons Pty Ltd v Wanari Pty Ltd (2000) 35 ACSR 70 Queensland Mines Ltd v Hudson (1978) 18 ALR 1 Re Chevron Furnishers Pty Ltd (1994) 12 ACSR 565 Re GK Pty Ltd (in liq); ex parte Deputy Commissioner of Taxation (1983) 1 ACLC 848 Thomas Franklin v Cameron (1935) 36 SR(NSW) 286 4595/01 PARTIES : ACN 003 671 387 Pty Ltd (In liq) (P) 4596/01 ACN 008 664 257 Pty Ltd (In liq) (P) FILE NUMBER(S) : SC 4595/01, 4596/01 COUNSEL : R J Weber SC (P) SOLICITORS : DMAW Lawyers (Adelaide) by their agents Aitken McLachlan Thorpe (P)