NSW Caselaw
New South Wales Court of Appeal
CITATION: Re The Black Stump Enterprises Pty Ltd and Associated Companies [2005] NSWCA 480
HEARING DATE(S): 14 December 2005
JUDGMENT DATE: 14 December 2005
JUDGMENT OF: Santow JA at 38, 39, 42, 43; Bryson JA at 40, 41; Young CJ in Eq at 1-37
DECISION: Appeal dismissed with costs.
CATCHWORDS: CORPORATIONS- Winding up voluntarily after administration- Meeting of creditors- Creditors informed of the possible pooling of assets and liabilities of companies in group- Failure by administrator to provide adequate information to creditors- No dissent received- Insufficient to show consent of creditors- Trial judge so decides- Court of Appeal agrees- Discussion as to power of court to allow pooling- Whether solicitors who badly advise liquidators should personally pay costs of failed application to court.
Corporations Act 2001 (Cth), ss 447A, 477(1)(c), 479(3), 506(1)(b), 511(1) & (2) LEGISLATION CITED: Supreme Court Act 1970, s 109 Uniform Civil Procedure Act 2005, s 99
Australasian Memory Pty Ltd v Brien (2000) 200 CLR 270 Dean-Willcocks v Soluble Solution Hydroponics Pty Ltd (1997) 42 NSWLR 209 Felthouse v Brindley (1862) 11 CB (NS) 869; 142 ER 1037 Mountford v Tasman Pacific Airlines of NZ Ltd [2006] 1 NZLR 104 CASES CITED: Re Austcorp Tiles Pty Ltd (1992) 10 ACLC 62 Re Charter Travel Co Ltd (1997) 25 ACSR 337 Re GB Nathan & Co Pty Ltd (1991) 5 ACSR 673 Re Switch Telecommunications Pty Ltd; Ex parte Sherman (2000) 35 ACSR 172
Riad Tayeh and Antony De Vries (in their capacity as joint liquidators of The Black Stump Enterprises Pty Ltd and 8 associated companies) (Appellants) PARTIES: Australian Securities and Investments Commission (Amicus)
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