Cumulus Wines v Huntley Management; Reynolds Wines v Huntley Management [2004] NSWSC 609

Reported Decision : 50 ACSR 58

New South Wales Supreme Court

CITATION : Cumulus Wines v Huntley Management; Reynolds Wines v Huntley Management [2004] NSWSC 609 HEARING DATE(S) : 28 June & 2 July 2004 JUDGMENT DATE : 7 July 2004 JURISDICTION: Equity JUDGMENT OF : Austin J DECISION : Orders made for winding up of managed investment schemes under s 601EE, subject to undertakings

CATCHWORDS : CORPORATIONS - managed investment schemes - unregistered schemes - considerations relevant to winding up Agricultural Tenancies Act 1990 (NSW) ss 6, 7, 22 LEGISLATION CITED : Corporations Act 2001 (Cth) ss 601EA, 601ED, 601EE Corporations Law ss 1454, 1457 ASIC v Chase Capital Management Pty Ltd (2001) 36 ACSR 778 CASES CITED : ASIC v Pegasus Leveraged Options Group (2002) 41 ACSR 561 ASIC v Takaran Pty Ltd (2002) 43 ACSR 46 Lismore City Council v Green Gro Pty Ltd (2003) 56 NSWLR 204 3465/04 Cumulus Wines Pty Ltd (ACN 107 786 318) as Manager of Central Highlands Wine Grape Projects No.2 & No.3 (P) Huntley Management Ltd (ACN 089 240 513) as Trustee of Central Highlands Wine Grape Projects No.2 & No.3 (D) John Johnson (appearing by leave) PARTIES : 3529/04 Reynolds Wines Ltd (ACN 061 232 657) (receiver appointed) (in liquidation) as Manager of Central Highlands Wine Grape Project No.4 (P) Huntley Management Ltd (ACN 089 240 513) as Trustee of Central Highlands Wine Grape Project No.4 (D1) Vinland Farms Pty Ltd (ACN 079 793 141) (D2) Angullong Pty Ltd (ACN 000 380 585) (D3) Bruce Joseph Robinson (appearing by leave) FILE NUMBER(S) : SC 3465/04, 3529/04 J Gleeson SC with Ms K Williams (P, both matters) COUNSEL : A W Stoker (Sol) (D1, both matters) N Dunstone (Sol) (D2, D3, 3529/04) P Finch (Mr Johnson & Mr Robinson) Corrs Chambers Westgarth (P, both matters) SOLICITORS : Piper Alderman (D1, both matters) Henry Davis York (D2, D3, 3529/04) Dennis & Co (Mr Johnson & Mr Robinson)