Inetstore Corporation v Southern Matrix International [2005] NSWSC 883

Reported Decision : 55 ACSR 178

New South Wales Supreme Court

CITATION : Inetstore Corporation v Southern Matrix International [2005] NSWSC 883

HEARING DATE(S) : 29 & 30 August 2005

JUDGMENT DATE : 5 September 2005

JURISDICTION : Equity

JUDGMENT OF : Campbell J

DECISION : Application for mandatory interlocutory injunction refused.

CATCHWORDS : CORPORATIONS - winding up - whether liqudator's lien for fees has priority over rights of secured creditor - whether liquidator or secured creditor has superior right to sell assets the subject of the security - EQUITY - equitable charges and liens - liquidator's lien - whether has priority to chargee under equitable charge - INJUNCTIONS - interlocutory - balance of convenience - relevance of strength of case shown on application for interlocutory injunction - INJUNCTIONS - interlocutory - whether damages an adequate remedy - ways in which whether damages an adequate remedy are relevant to grant of the injunction

LEGISLATION CITED : Corporations Act 2001 (Cth)

Bullock v The Federated Furnishing Trades Society of Australasia (No 1) (1985) 5 FCR 464 Businessworld Computers Pty Ltd v Australian Telecommunications Commission (1988) 82 ALR 499 Castlemaine Tooheys Ltd v South Australia (1986) 161 CLR 148 Mayo Group International Pty Ltd v Hudson Respiratory Care Inc [2005] NSWSC 445 O D Transport Pty Ltd v Western Australian Government Railways Commission (1987) ATPR 40-761; 13 FCR 500; 71 ALR 356 CASES CITED : Re French Caledonia Travel Services Pty Ltd (in liq) [2003] NSWSC 1008; (2003) 59 NSWLR 361 Re Universal Distributing Co Ltd (in liq) (1933) 48 CLR 171 Shercliff v Engadine Acceptance Corporation Pty Ltd [1978] 1 NSWLR 729 South Sydney District Rugby League Football Club Ltd v News Limited (1999) 169 ALR 120; [1999] FCA 1710 Weston v Carling Constructions Pty Ltd (in provisional liquidation) (2000) 175 ALR 202