Lombe v Wagga Leagues Club Ltd [2006] NSWSC 3

Reported Decision : 56 ACSR 387 (2006) 24 ACLC 298

New South Wales Supreme Court

CITATION : Lombe v Wagga Leagues Club Ltd [2006] NSWSC 3

HEARING DATE(S) : 21/11/05

JUDGMENT DATE : 31 January 2006

JURISDICTION : Equity Division Corporations List

JUDGMENT OF : Barrett J

DECISION : Short minutes to be brought in.

CATCHWORDS : CORPORATIONS - company previously under deed of company arrangement now in liquidation - priority of payments in winding up - whether contributor to fund under deed of company arrangement advanced money out of which employee entitlements met - whether such contributor entitled to priority under s.560 - CORPORATIONS - charges - where charge void against liquidator because not registered within required time - application by liquidator for order declaring such charge to be valid against liquidator but on basis of curtailed operation and effect - no jurisdiction to make such order shown - CORPORATIONS - deed of company arrangement - residue of funds held by deed administrators after termination of deed - whether such funds became subject to trust in hands of deed administrators - whether any such trust survived termination of deed of company arrangement

Corporations Act 2001 (Cth) - Part 5.3A, ss.262(1)(a), 263, 266, s.444A(4)(b), 444B, 444D, 444G, 445C, 445F, 445H, 560, 561, LEGISLATION CITED : Corporations Regulations 2001 (Cth), Schedule 8A cl 1 Gaming Machines Act 2001, s.74 Trustee Act 1925, s.63

Application of Macedonian Orthodox Community Church St Petka (No 2) [2005] NSWSC 558 Arcfab Pty Ltd v Boral Ltd (2002) 43 ACSR 573 Barclays Bank Ltd v Quistclose Investments Ltd [1970] AC 564 Capt'n Snooze Management Pty Ltd v McLellan (2002) 171 FLR 124 Commissioner of Taxation v Linter Textiles Australia Ltd (2005) 79 ALJR 913 Commonwealth of Australia v Rocklea Spinning Mills Pty Ltd (2005) 145 FCR 220 Cresvale Far East Ltd v Cresvale Securities Ltd (No 2) [2001] NSWSC 791 Dean-Willcocks v ACG Engineering Pty Ltd (2003) 45 ACSR 290 Federal Commissioner of Taxation v All Suburbs Car Repairs Pty Ltd (1994) 14 ACSR 753 CASES CITED : MYT Engineering Pty Ltd v Mulcon Pty Ltd (1999) 195 CLR 636 Re Australian Elizabethan Theatre Trust (1999) 30 FCR 491 Re Francis and Ryan as trustees of West Australian Shed Commercial Pty Ltd [2003] WASC 39 Re Oriental Inland Steam Co (1874) 9 Ch App 577 Re Yagerphone Ltd [1935] 1 Ch 392 Russell v Wakefield Waterworks Co (1875) LR 20 Eq 474 Shepard v Sports Mondial of Australia Pty Ltd (2005) 53 ACSR 746 Sutherland v Rahme Enterprises Pty Ltd (2003) 46 ACSR 458 Twinsectra Ltd v Yardley [2002] 1 AC 164 Young v Sherman (2002) 170 FLR 86