Tolcher v National Australia Bank Ltd [2004] NSWSC 398

New South Wales Supreme Court

CITATION : Tolcher v National Australia Bank Ltd [2004] NSWSC 398 HEARING DATE(S) : 26/03/04 Written submissions - 01/04/04 JUDGMENT DATE : 12 May 2004

JURISDICTION: Equity Division Corporations List JUDGMENT OF : Barrett J DECISION : Costs of all parties to be paid out of assets of company

CATCHWORDS : PROCEDURE - costs - priority in winding up afforded to certain creditors providing financial support to liquidator - another creditor opposes liquidator's application - orders made favour all creditors referred to in liquidator's application but with two of three awarded less than liquidator sought - whether opposing creditor's role beyond that of "conventional contradictor" - whether all costs should be expense of winding up LEGISLATION CITED : Corporations Act 2001 (Cth), s.564 Supreme Court (Corporations) Rules 1999, rule 2.13 Hall v Interchase Corporation Ltd [2002] QSC 85 CASES CITED : Re Ken Godfrey Pty Ltd (1994) 14 ACSR 610 Re Russell (2000) 35 ACSR 367 Tolcher v National Australia Bank Ltd (2004) 22 ACLC 397 Raymond George Tolcher - Plaintiff PARTIES : National Australia Bank Limited - First Defendant Capital Finance Australia Limited - Second Defendant Fuji-Xerox Australia Pty Limited - Third Defendant FILE NUMBER(S) : SC 3259/03 Mr R R I Harper - Plaintiff COUNSEL : Mr J Stoljar - First Defendant Mr M A Ashhurst - Second Defendant Mr A D Weaver, Solicitor - Third Defendant Piper Alderman - Plaintiff SOLICITORS : Mallesons Stephen Jaques - First Defendant Kemp Strang - Second Defendant Bartier Perry - Third Defendant