Tayeh and De Vries re The Black Stump Enterprises Pty Ltd & Ors [2005] NSWSC 475

Reported Decision : 53 ACSR 684

New South Wales Supreme Court

CITATION : Tayeh and De Vries re The Black Stump Enterprises Pty Ltd & Ors [2005] NSWSC 475

HEARING DATE(S) : 09/05/05

JUDGMENT DATE : 20 May 2005

Equity Division JURISDICTION : Corporations List

JUDGMENT OF : Barrett J

DECISION : Originating process dismissed

CATCHWORDS : CORPORATIONS- winding up - nine companies with same directors and shareholders - intermingled affairs - application by liquidators for order that assets of companies "be pooled" and all creditors be paid from pool without regard to which of companies was indebted - application based on s.511 - no attempt to invoke provisions under which majority can bind minority - no showing of unanimous consent

LEGISLATION CITED : Corporations Act 2001 (Cth), ss.477(1), 506(1) and 511

Dean-Willcocks v Soluble Solution Hydroponics Pty Ltd (1997) 42 NSWLR 209 Kassem v Sentinel Properties Ltd [2005] NSWSC 403 Mentha v GE Capital Ltd (1997) 154 ALR 565 Re ACN 004 987 866 Pty Ltd (2003) 21 ACLC 1474 Re Bailey Hay & Co Ltd [1971] 3 All ER 693 CASES CITED : Re Charter Travel Co Ltd (1997) 25 ACSR 337 Re Dean-Willcocks; Alpha Telecom (Aust) Pty Ltd (2004) 208 ALR 414 Re Duomatic Ltd [1969] 2 Ch 365 Re Express Engineering Works Ltd [1920] 1 Ch 466 Re Switch Telecommunications Pty Ltd; Ex parte Sherman (2000) 35 ACSR 172 United States Trust Co of New York v Australia and New Zealand Banking Group Ltd (1995) 37 NSWLR 131

PARTIES : Riad Tayeh and Anthony De Vries (in their capacity as joint liquidators of The Black Stump Enterprises Pty Ltd, BR Finance Pty Ltd, Carlemos Pty Ltd, Kilanis Pty Ltd, Partoor Pty Ltd, BS Accounting & Consulting Pty Ltd, Filose Pty Ltd, Narera Pty Ltd, Yorkbridge Pty Ltd)) - Plaintiffs