Westpac Banking Corporation v ITS Taxation Services [2004] NSWSC 50

Reported Decision : (2004) 22 ACLC 229

New South Wales Supreme Court

CITATION : Westpac Banking Corporation v ITS Taxation Services [2004] NSWSC 50 HEARING DATE(S) : 9 February 2004 JUDGMENT DATE : 12 February 2004 JURISDICTION: Equity JUDGMENT OF : Austin J DECISION : Receiver's remuneration allowed, in an amount to be determined by the Registrar; receiver authorised to pay the asessed amount out of a specified fund; declaration that the remuneration sought by receiver has priority over claims by chargeholders.

CATCHWORDS : PRACTICE AND PROCEDURE - Court-appointed receiver - claim to be paid remuneration and expenses out of fund - defendants claim interest in fund as chargees - priority of claims CORPORATIONS - chargees under registered charge - whether chargees' claimed interest has priority over receiver's equitable lien LEGISLATION CITED : Corporations Act 2001 (Cth) Pt 2K Supreme Court Act 1970 (NSW) s 67 Choudhri v Palta [1994] 1 BCLC 184 Harris v Sleep [1897] 2 Ch 80 CASES CITED : Re Application of Central Commodities Services Pty Ltd [1984] 1 NSWLR 25 Shawyer v Amberday Pty Ltd (in liq) [2001] NSWSC 399 Shirlaw v Taylor (1991) 31 FCR 222 Westpac Banking Corporation (P1, XD3) Investment Taxation Specialists Limited (Administrator Appointed) (Receivers and Managers Appointed) (P2) ITS Taxation Services Pty Limited (D1, XD1) Ross James Anderson (D2) Neil Geoffrey Singleton (In his capacity as receiver and manager of ITS Taxation Services Pty Limited) (D3, XD2) R & H Hosking Pty Limited (D4, XC) Bruno Valentino Cadorin (D5) PARTIES : Edda Cadorn (D6) Alexander Peter Anderson (D7) Betty Anderson (D8) L & O Forner Pty Limited (D9) Baccus Pty Limited (D10) Dennis Murray (D11) Pauline Murray (D12) Danny Lee (D13) Samazan Pty Limited (D14) FILE NUMBER(S) : SC 4345/02 Mr W G Muddle (Ps) COUNSEL : Mr D B Studdy (D1, D3) Mr D G Bitsis (Solicitor) (D2) Mr A J Abadee (D4) Minter Ellison (Ps) SOLICITORS : Dibbs Barker Gosling (D1, D3) Colin Biggers & Paisley (D2) KP Farmer & Associates (D4)