McGrath & Anor re HIH Insurance Ltd & Ors [2006] NSWSC 385

New South Wales Supreme Court

CITATION : McGrath & Anor re HIH Insurance Ltd & Ors [2006] NSWSC 385

HEARING DATE(S) : 04/05/06 JURISDICTION : Equity Division Corporations List

JUDGMENT OF : Barrett J

EX TEMPORE JUDGMENT DATE : 05/04/2006

DECISION : Orders appointing additional liquidator of two companies and conferring limited and specific powers on that liquidator

CATCHWORDS : CORPORATIONS - winding up - winding up by the court - current liquidators of prospective plaintiff companies contemplate litigation in which related companies of which they are also liquidators may become subject to cross claims - need for additional liquidator of those related companies with powers confined to such matters

LEGISLATION CITED : Corporations Act 2001 (Cth), ss.472(1), 473(8)

Advance Housing Pty Ltd v Newcastle Classic Development Pty Ltd (1994) 14 ACSR 230 Onefone Australia Pty Ltd v One.Tel Ltd (2003) 48 ACSR 562 CASES CITED : Onefone Australia Pty Ltd v One.Tel Ltd [2006] NSWSC 349 Re Obie Pty Ltd (No.4) (1984) 8 ACLR 967 Re Pasminco Ltd (No 2) (2004) 49 ACSR 470 Re Spedley Securities Ltd (1991) 4 ACSR 555

PARTIES : Anthony Gregory McGrath and Christopher John Honey in their capacity as liquidators of HIH Insurance Ltd & Ors - Plaintiffs

FILE NUMBER(S) : SC 1799/01; 1805/01; 1808/01; 1810/01 ; 3753/02; 1798/01; 1800/01; 1801/01; 1803/01; 1804/01; 1806/01; 1807/01; 1809/01; 1811/01; 1812/01; 1813/01; 1814/01; 1815/01; 2650/01; 4727/01; 4913/01; 2601/02; 4096/02; 4098/02; 4472/02; 1348/03; 2419/03; 2421/03; 2422/03; 2423/03; 2424/03; 2425/03; 2426/03; 4227/03; 4229/03; 4231/03; 4232/03; 4233/03; 4235/03; 4236/03; 4237/03; 6377/04