Tolcher v National Australia Bank [2004] NSWSC 6

Reported Decision : 48 ACSR 741 (2004) 22 ACLC 397

New South Wales Supreme Court

CITATION : Tolcher v National Australia Bank [2004] NSWSC 6 HEARING DATE(S) : 10/10/03 Written submissions: 20/10/03, 20/11/03, 28/11/03, 05/12/03, 10/12/03 JUDGMENT DATE : 3 February 2004

JURISDICTION: Equity Division Corporations List JUDGMENT OF : Barrett J DECISION : Order for priority dividend in respect of debts of three creditors

CATCHWORDS : CORPORATIONS - winding up - creditors providing financial support to liquidator to recover or protect property - whether support given during voluntary administration preceding winding up is within s.564 - whether liquidator's claims to recover unfair preference and on the basis of insolvent trading involve "property" for the purposes of s.564 - whether assistance given to receiver concurrently in office in connection with public examinations conducted by receiver in cooperation with liquidator qualifies under s.564 - determining appropriate relativities among creditors providing support LEGISLATION CITED : Corporations Act 2001 (Cth), s.564 Deputy Commissioner of Taxation v Currockbilly Pty Ltd (2002) 172 FLR 99 Re Home Corp Projects Pty Ltd (2002) 20 ACLC 1751 Household Financial Services Pty Ltd v Chase Medical Centre Pty Ltd (1995) 18 ACSR 294 Re Kyra Nominees Pty Ltd (1987) ACLR 767 CASES CITED : N A Kratzmann Pty Ltd v Tucker (No 2) (1968) 123 CLR 295 Re Parkston Ltd (2000) 35 ACSR 114 Re Pinnacle Constructions Pty Ltd [2001] NSWSC 1210 Power Demolitions Pty Ltd v Tosich Constructions Pty Ltd (1998) 26 ACSR 22 State Bank of New South Wales v Brown (2001) 38 ACSR 715 Tolcher v National Australia Bank Limited (2003) 44 ACSR 727 Raymond George Tolcher - Plaintiff National Australia Bank Limited - First Defendant PARTIES : Capital Finance Australia Finance Limited - Second Defendant Fuji-Xerox Australia Pty Limited - Third Defendant