Phelan v Ambridge Corporation P/L [2005] NSWSC 875

Reported Decision : 55 ACSR 136

New South Wales Supreme Court

CITATION : Phelan v Ambridge Corporation P/L [2005] NSWSC 875

HEARING DATE(S) : 22 August 2005

JUDGMENT DATE : 22 August 2005

JUDGMENT OF : Brereton J

DECISION : Provisional liquidator refused; interim receiver appointed.

CATCHWORDS : CORPORATIONS - administration - winding up - service - provisional liquidator - standing to apply - whether beneficiary of trust is a creditor of trustee - whether beneficiary of trust may be "contingent creditor"

Supreme Court Act 1970 s 67 LEGISLATION CITED : Corporations Act 2001 s 109, s 206, s 420, s 461, s 553 Uniform Civil Procedure Rules r 10.14

Riviana (Australia) Pty Limited v Laospac Trading Pty Limited (1986) 10 ACLR 865 Lubavitch Mazal Pty Limited v Yeshiva Properties No 1 Pty Limited (2003) 47 ACSR 197 CIC Insurance Limited (provisional liquidator appointed) v Hannan & Co Pty Limited (2001) 38 ACSR 245 Lunn v Cardiff Coal Company (No 3) (2003) 47 ACSR 79 Webb v Stenton (1883) 11 QBD 518 Re Greenwood, Sutcliffe v Gledhill [1901] 1 Ch 887 National Australia Bank Limited v Market Holdings Pty Limited (2000) 50 NSWLR 465 CASES CITED : Alati v Wei Sheung (2000) 34 ACSR 489 Roy Morgan Research Centre Pty Ltd v Wilson Market Research Pty Limited (1996) 39 NSWLR 311, 20 ACSR 108 Stonegate Securities Ltd v Gregory [1980] Ch 576; [1980] 1 All ER 241; [1980] 3 WLR 168 Community Development Pty Limited v Engwirda Construction Company (1969) 120 CLR 455, 459 (Kitto J) Re William Hockley Limited [1962] 2 All ER 111, 113 In the matter of Simionato Holdings Pty Limited (1997) 15 ACLC 477 Thomas v Mackay Investments Pty Ltd (1996) 22 ACSR 294