Australia and New Zealand Banking Group Ltd v TJF EBC Pty Ltd [2006] NSWSC 25

Reported Decision : 56 ACSR 570 (2006) 24 ACLC 327

New South Wales Supreme Court

CITATION : Australia and New Zealand Banking Group Ltd v TJF EBC Pty Ltd [2006] NSWSC 25

12/12/05 HEARING DATE(S) : Written submissions: 11/1/06; 24/01/06 Judgment reserved: 30/01/06

JUDGMENT DATE : 6 February 2006

JURISDICTION : Equity DIvision Corporations List

JUDGMENT OF : Barrett J

DECISION : Order granting advantage to one creditor in winding up

CATCHWORDS : CORPORATIONS - winding up - application by liquidator for order granting advantage to one creditor in winding up - creditor financed successful preference recovery litigation - Commonwealth through GEERS scheme occupying higher position on scale of priorities - whether order sought by liquidator may impinge upon such priority - whether special onus applies where order will so impinge - whether relevant that Commonwealth is a volunteer

LEGISLATION CITED : Corporations Act 2001 (Cth), ss.556(1), 560, 564

Commonwealth of Australia v Rocklea Spinning Mills Pty Ltd (2005) 145 FCR 220 Household Financial Services Pty Ltd v Chase Medical Centre Pty Ltd (1995) 18 ACSR 294 CASES CITED : Jarbin Pty Ltd v Clutha Ltd (2004) 208 ALR 242 Re Manson; Ex parte Official Assignee (1897) 18 LR (NSW) (B&P) 38 State Bank of New South Wales v Brown (2001) 38 ACSR 715 Tolcher v National Australia Bank Ltd (2003) 44 ACSR 727

Australia and New Zealand Banking Group Limited - Plaintiff PARTIES : TJF EBC Pty Limited - Defendant Peter Murrary Walker in his capacity as liquidator of Prestige Cranes Pty Limited - Applicant