ASIC v Karl Suleman Enterprises; Application of Stoliar [2003] NSWSC 163

Reported Decision : (2003) 44 ACSR 694 (2003) 21 ACLC 869

New South Wales Supreme Court

CITATION : ASIC v Karl Suleman Enterprises; Application of Stoliar [2003] NSWSC 163 revised - 28/03/2003 HEARING DATE(S) : 7 March 2003 JUDGMENT DATE : 17 March 2003 JURISDICTION: Equity JUDGMENT OF : Austin J DECISION : Application dismissed

CATCHWORDS : CORPORATIONS - winding up - liquidators' examinations - whether Court has power to stand the examination over with liberty to restore - whether adjourned examination should be vacated on discretionary grounds LEGISLATION CITED : Corporations Act 2001 (Cth), ss 9, 596A, 596B, 596C, 596D, 596F, 597, 597B Clark v Wood (1997) 78 FCR 356 Hamilton v Oades (1989) 166 CLR 486 Hong Kong Bank of Australia v Murphy (1992) 28 NSWLR 512 Karounos v Official Trustee (1988) 19 FCR 330 MacPherson v Sherman [2001] NSWSC 68 CASES CITED : Re Equiticorp Finance Ltd; Ex parte Brock (1992) 10 ACLC 382 Re Hugh J Roberts Pty Ltd (1970) 91 WN (NSW) 537 Re North Australian Territory Company (1890) 45 Ch 87 Re Qintex Group Management Services Pty Ltd [1997] 2 QdR 91 Re Robert Sterling Pty Ltd [1979] 2 NSWLR 728 Re Southern Equities Corporation Ltd (in liq); Caboche v England (1998) 72 SASR 186 Re von Dembinska [1954] 1 WLR 748 Australian Securities and Investments Commission (P) PARTIES : Karl Suleman Enterprises Pty Ltd (in liquidation) (D1) and 12 others Nati Stoliar (A) Paul Weston and Neil Cussen (Rs) FILE NUMBER(S) : SC 5415/01 COUNSEL : B Coles QC with A Fernon (A) J E Thomson with K E Burke (R) SOLICITORS : Landerer & Co (A) Coudert Brothers (R)