NSW Caselaw
Reported Decision : 55 ACSR 539 (2006) 24 ACLC 33
New South Wales Supreme Court
CITATION : Re Maureen Michael Management Pty Ltd [2005] NSWSC 1044
HEARING DATE(S) : 26/9/05
JUDGMENT DATE : 20 October 2005
Equity Division JURISDICTION : Corporations List
JUDGMENT OF : Young CJ in Eq
DECISION : Decline to make orders in liquidator's application; Application to be dismissed if no scheme of fund distribution produced by end of November.
CATCHWORDS : CORPORATIONS [284]- Liquidator's remuneration- Company operated non-trading trust fund- Remuneration normally allowed where liquidator administers trust fund responsibly- Distinction between administration of trading trust and non-trading trust- No right to remuneration of non-trading trust- Relevant statutory provisions may limit exercise of discretion to allow remuneration.
Civil Procedure Act 2005, s 60 Corporations Act 2001 (Cth), ss 495(1), 511 LEGISLATION CITED : Entertainment Industry Act 1989, s 39 Trustee Act 1925, s 95
Grossman v E Katz Manufacturing Jewellers (ACT) Pty Ltd (2004) 52 ACSR 198 Re Crest Realty Pty Ltd [1977] 1 NSWLR 664 Re Freeman's Settlement Trusts (1887) 37 Ch D 148 CASES CITED : Re G B Nathan & Co Pty Ltd (1991) 24 NSWLR 674 Re Greater West Insurance Brokers Pty Ltd (2001) 39 ACSR 301 Re Sutherland (2004) 50 ACSR 297 Re Universal Distributing Co Ltd (1933) 48 CLR 171
PARTIES : John Frederick Lord in his capacity as Official Liquidator of Maureen Michael Management Pty Ltd (In liq) (P)
FILE NUMBER(S) : SC 4851/05
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