NSW Caselaw
New South Wales Court of Appeal
CITATION : Hypec v Mead [2004] NSWCA 221 revised - 07/07/2004 HEARING DATE(S) : 9.6.04, 10.6.04 JUDGMENT DATE : 6 July 2004
JUDGMENT OF : Sheller JA at 1; Ipp JA at 2; Tobias JA at 3 DECISION : In matter CA 41163 of 2003; (a) Appeal dismissed; (b) Reserve liberty to apply with respect to the costs of the appeal; In matter CA 40390 of 2004; (a) Summons for an extension of time and for leave to appeal dismissed; (b) Reserve liberty to apply with respect to the costs of the summons
CATCHWORDS : CORPORATIONS - Liquidation - Estoppel - Rule in Ex parte James - Corporations Act s 477(6) - Property purchased with company funds - Property sold to fund director's legal costs - Liquidator knows of sale - Director defending company - Proceeds of sale - Liquidator attempts to recover - Whether benefit to company - Whether inducement by liquidator - Whether rule extends beyond money paid under mistake of law. - ESTOPPEL - Whether party needs to be 'innocent' - PRACTICE & PROCEDURE - Argument on appeal not run at trial - Prejudice LEGISLATION CITED : Corporations Act 2001 (Cth) Colton v Holcombe (1986) 162 CLR 1; Cummings v Lewis (1993) 41 FCR 559; Ex parte James; In re Condon (1874) LR 9 Ch App 609; Gordon v James (1885) 30 Ch D 249 ; Hartogen Energy Ltd (In liquidation) v The Australian Gaslight Co (1992) 36 FCR 557; In re Associated Dominions Assurance Society Pty Limited and the Life Assurance Act (1962) 109 CLR 516; In re Clark (a bankrupt); Ex parte the Trustee of the property of the bankrupt v Texaco Limited [1975] 1 WLR 559; Multicon Engineering Pty Limited v Federal Airports Corporations (2000) 47 NSWLR 631; CASES CITED : Re Ebner; Ebner v The Official Trustee in Bankruptcy (2003) 196 ALR 533; Re Redmond; Ex parte Official Receiver (1948) 16 ABC 90; Star v Silvia (No. 1) (1994) 12 ACLC 600; Suttor v Gundowda Pty Limited (1950) 81 CLR 418; Thompson v Palmer (1933) 49 CLR 407; Tobin v Broadbent (1947) 75 CLR 378; University of Wollongong v Metwally (No. 2) (1985) 59 ALJR 481; Waltons Stores (Interstate) Limited v Maher (1988) 164 CLR 387; Water Board v Moustakas (1988) 180 CLR 491. PARTIES : Hypec Electronics Pty Limited (In Liquidation) Colin Anthony Mead FILE NUMBER(S) : CA 41163/03; 40390/04 COUNSEL : A: B Rayment QC, T J Morahan, N Gye R: D Fagan SC / V Bedrossian SOLICITORS : A: A R Connolly & Co, Sydney R: Etheringtons, North Sydney
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