HIH Casualty & General Insurance Ltd v Building Insurers' Guarantee Corporation [2004] NSWSC 910

Reported Decision : 51 ACSR 21

New South Wales Supreme Court

CITATION : HIH Casualty & General Insurance Ltd v Building Insurers' Guarantee Corporation [2004] NSWSC 910 HEARING DATE(S) : 14/05/04 JUDGMENT DATE : 5 October 2004

JURISDICTION: Equity Division Corporations List JUDGMENT OF : Barrett J DECISION : Application for directions under s.479(3) refused

CATCHWORDS : CORPORATIONS - winding up - application by liquidators for directions - directions sought as to operation of certain statutes upon and in relation to reinsurance contracts - such contracts described only in general terms - no concrete factual circumstance identified - not appropriate case for directions Corporations Act 2001 (Cth). s.479(3) Employers' Indemnity Supplementation Fund Act 1980 (WA) General Insurance Reform Act 2001 (Cth), s.116 Home Building Act 1989 (NSW) Insurance Act 1973 (Cth), s.116 LEGISLATION CITED : Insurance Act 1973 (Cth), s.116 Motor Accident Insurance Act 1994 (Qld) Motor Accidents Compensation Act 1999 (NSW) Workers Compensation Act 1987 (NSW) Workers Compensation Act 1958 (Victoria) Workers' Rehabilitation and Compensation Act 1988 (Tasmania) Work Health Act (Northern Territory) HIH Casualty and General Insurance Ltd v Building Insurers' Guarantee Corporation (2003) 202 ALR 610 Otis Elevator Co Pty Ltd v Guide Rails Pty Ltd (2004) 49 ACSR 531 CASES CITED : Re Ansett Australia Ltd (2002) 40 ACSR 433 Re French Caledonia Travel Service Pty Ltd (2003) 48 ACSR 97 Re Staff Benefits Pty Ltd [1979] 1 NSWLR 207 Sanderson v Classic Car Insurances Pty Ltd (1985) 10 ACLR 115 HIH Casualty & General Insurance Limited (In Liquidation), FAI General Insurance Company Limited (In Liquidation), CIC Insurance Limited (In Liquidation), World Marine & General Insurances Pty Limited (In Liquidation), FAI Traders Insurance Company Pty Limited (In Liquidation), FAI Reinsurances Pty Limited (In Liquidation), HIH Underwriting & Insurance (Australia) Pty Limited (In Liquidation), HIH Underwriting & Agency Services Limited (In Liquidation), HIH Insurance Limited (In Liquidation), Lanlex No 65 Pty Limited (In Liquidation), FAI Leasing Finance Pty Limited (In Liquidation), FAI Insurances Limited (In Liquidation), FAI Investments Pty Ltd (In Liquidation), FAI Overseas Investments Pty Limited (In Liquidation), HIH Overseas Holdings Limited (In Liquidation), FAI Financial Services Limited (In Liquidation), FAI Overseas Holdings Pty Limited (In Liquidation), Hannan & Company Pty Limited (In Liquidation), Notestir Pty Limited (In Liquidation), First Mentor Group Pty Limited (In Liquidation), World Wide Weather Underwriting Agencies (Australia) Pty Limited (In Liquidation), HIH Investment Holdings Limited (In Liquidation), HIH Company Limited (In Liquidation), ACN 006 495 987 Pty Limited (In Liquidation) (formerly "Industrial Rehabilitation Services Pty Limited"), CIC General Insurance Holdings Ltd (In Liquidation), FAI Home Security Holdings Limited (In Liquidation), ACN 005 312 345 Pty Limited (In Liquidation) (formerly "Ready Plan Asia Pacific Pty Limited), FAI Film Distribution Pty Limited (In Liquidation), FAI Workers Compensation (Vic) Pty Limited (In Liquidation), HIH (Real Estate) Pty Limited (In Liquidation), Integrated Commercial Finance Pty Limited (In Liquidation), Innes Owens Pty Limited (In Liquidation), RiskCorp Australia Pty Limited (In Liquidation) - First Plaintiffs PARTIES : Anthony Gregory McGrath and Alexander Robert Mackay Macintosh - Second Plaintiffs Building Insurers' Guarantee Corporation - First Defendant Motor Accident Insurance Commission - Second Defendant FILE NUMBER(S) : SC 5353/02 Mr B A J Coles QC - Plaintiffs COUNSEL : Mr A J L Ogborne - Second Defendant Mr N C Hutley SC/Mr R D Marshall - NSW, Victoria, Western Australia and ACT Workers Compensation Mr M B Oakes SC/Mr M J Dawson - Amici Curiae SOLICITORS : Blake Dawson Waldron - Plaintiffs Bain Gasteen by their City Agents Hicksons - Second Defendant