Nicholas James Crouch & Anor v Lynne Adams & Ors [2006] NSWSC 1029

New South Wales Supreme Court

CITATION : Nicholas James Crouch & Anor v Lynne Adams & Ors [2006] NSWSC 1029

HEARING DATE(S) : 18/09/06

JUDGMENT DATE : 28 September 2006

JURISDICTION : Equity Division Corporations List

JUDGMENT OF : White J

DECISION : Order that short minutes of order be brought in in accordance with these reasons.

CATCHWORDS : CORPORATIONS – Winding-up – Applications to Court by liquidator for directions – Company carried on business of buying, selling, leasing and managing vending machines – Liquidator seeks directions pursuant to s 511 Corporations Act 2001 (Cth) as to basis on which he should deal with vending machines in company's possession - SALE OF GOODS – Passing of property – Company in liquidation sold vending machines to claimants – Claimants entered into management agreements with company upon paying purchase price – Company kept inadequate records of vending machines purchased, sold, leased and managed – Where specific vending machines can be matched to specific contracts and there is only one claimant – Liquidator justified in treating such claimants as legal owners – Where specific vending machines are claimed by multiple claimants and it is possible to identify order of sale – Liquidator justified in treating last purchaser as legal owner – Where specific vending machines are claimed by multiple claimants and it is not possible to identify order of sale – Liquidator justified in selling vending machines and distributing proceeds to claimants pari passu – Where not possible to identify ownership of specific vending machines – Liquidator justified in selling vending machines and distributing proceeds to claimants pari passu – Where claimants entered into buy-back contracts with company and contracts not capable of specific performance – Liquidator justified in acting on basis that claimants have no lien over vending machines.