Jacqueline Foyster v Foyster Holdings (in liq) [2003] NSWSC 925

New South Wales Supreme Court

CITATION : Jacqueline Foyster v Foyster Holdings (in liq) [2003] NSWSC 925 HEARING DATE(S) : 23/9/03-24/9/03 & 10/10/03 JUDGMENT DATE : 10 October 2003 JURISDICTION: Equity JUDGMENT OF : Campbell J DECISION : Directions given that liquidator is justified in compromising debt, and in completing share sale agreement. Power conferred to compromise debt.

CATCHWORDS : CORPORATIONS - winding up - directions to liquidator when bona fides of his action attacked - approval of compromise of debt LEGISLATION CITED : Corporations Act 2001 (Cth) Re Addstone Pty Ltd (in liq) (1997) 25 ACSR 357 Re Ansett Australia limited and Korda [2002] FCA 90; (2002) 40 ACSR 433 Re Chase Corporation (Australia) Equities Limited (1990) 8 ACLC 1118 CASES CITED : Re GA Listing and Maintenance (1994) 15 ACSR 308 Makita (Australia) Pty Ltd v Sprowles [2002] NSWCA 305; (2001) 52 NSWLR 705 Re Spedley Securities Ltd (in liq) (1992) 9 ACSR 83 State Bank v Turner (1994) 14 ACSR 480 Jacqueline Foyster - Plaintiff PARTIES : Foyster Holdings Pty Limited (in liquidation) - Defendant Geoffrey Trent Hancock - Liquidator David Foyster - Intervenor FILE NUMBER(S) : SC 5585/01 J Sexton SC - Liquidator COUNSEL : M B Evans - Intervenor P W Hopkins, solicitor - Tasmanian Titanium Pty Ltd Coudert Brothers - Liquidator SOLICITORS : Kings Lawyers - Intervenor P W Hopkins - Tasmanian Titanium Pty Ltd