Riad Tayeh and Anthony De Vries -v- The Black Stump Enterprises Pty Ltd (in liquidation) [2007] NSWSC 1328

New South Wales Supreme Court

CITATION : Riad Tayeh and Anthony De Vries -v- The Black Stump Enterprises Pty Ltd (in liquidation) [2007] NSWSC 1328

HEARING DATE(S) : 8 November 2007 JUDGMENT OF : Hammerschlag J

EX TEMPORE JUDGMENT DATE : 8 November 2007

DECISION : Direction pursuant to section 511(1) of the Corporations Act 2001 (Cth) that liquidators justified in entering into a pooling deed and in convening a combined meeting of all known creditors of the group for the purpose of voting on a resolution to approve it.

CATCHWORDS : CORPORATIONS – Ex parte application for directions under s 511 of the Corporations Act 2001 (Cth) that liquidator justified in entering into pooling arrangements – Form of notice to creditors considered

LEGISLATION CITED : Corporations Act 2001 (Cth)

CASES CITED : Dean-Willcocks v Soluble Solution Hydroponics Pty Ltd (1997) 42 NSWLR 209 Re Switch Communications Pty Ltd (in Liq); Ex parte Sherman (2000) 35 ACSR 172

PARTIES : Riad Tayeh and Anthony De Vries The Black Stump Enterprises Pty Ltd (in liquidation) ACN 001 274 979

FILE NUMBER(S) : SC 5127/2007

COUNSEL : A. P. Spencer (Plaintiffs)

SOLICITORS : Somerset Ryckmans (Plaintiffs)

- 4 - IN THE SUPREME COURT OF NEW SOUTH WALES EQUITY DIVISION CORPORATIONS LIST

HAMMERSCHLAG J

8 NOVEMBER 2007

5126/2007 RIAD TAYEH and ANTHONY DE VRIES -v- THE BLACK STUMP ENTERPRISES PTY LTD (IN LIQUIDATION) ACN 001 274 979 EX TEMPORE JUDGMENT 1 HIS HONOUR: By amended originating process dated 8 November 2007 Messrs Tayeh and De Vries move for orders that as liquidators of the companies listed in the amended originating process (all of which are members of a group known as the Black Stump Group) they are justified in convening a combined meeting of all known creditors of the group for the purpose of voting on a resolution to approve a pooling deed under s 510 of the Corporations Act 2001 (Cth) ("the Act").