Sherman v Oaklands [2006] NSWSC 1327

New South Wales Supreme Court

CITATION : Sherman v Oaklands [2006] NSWSC 1327 This decision has been amended. Please see the end of the judgment for a list of the amendments.

HEARING DATE(S) : 31/10/06 JURISDICTION : Equity

JUDGMENT OF : Brereton J

EX TEMPORE JUDGMENT DATE : 10/31/2006

DECISION : Asset preservation order made

CATCHWORDS : INJUNCTIONS - Asset preservation orders - against third parties - whether respondent may be liable to contribute to assets of defendant to satisfy judgment if obtained by plaintiff - risk of dissipation - relevant parties - whether payment by respondent to liquidator of defendant should be exempted

LEGISLATION CITED : Uniform Civil Procedure Rules 2005 (NSW), r 25.14

CASES CITED : Cardile v LED Builders Pty Limited (1999) 198 CLR 380; 162 ALR 294

Steven John Sherman and Brian Raymond Silvia in their Capacity as Joint Liquidators of Wedmora Church St, Parramatta Pty Ltd (in Liquidation) ACN 002 497 716 (P1) PARTIES : Wedmora Church St, Parramatta Pty Ltd (in Liquidation) ACN 002 497 716 (P2) Bruce Stewart Oaklands (D1) Geoffrey David McDonald in his Capacity as Liquidator of Wed Property Services Pty Ltd (in Liquidation) ACN 110 357 072 (D2)

FILE NUMBER(S) : SC 4882/06

COUNSEL : Mr S A Kerr (P) Mr J C Giles (D1)

SOLICITORS : Clayton Utz (P)

IN THE SUPREME COURT OF NEW SOUTH WALES EQUITY DIVISION DUTY LIST

BRERETON J

Tuesday 31 October 2006

4882/06 Stephen John Sherman & Ors v Bruce Oaklands & Ors JUDGMENT (Ex tempore) 1 HIS HONOUR: The first plaintiffs Stephen John Sherman and Brian Raymond Silva are the liquidators of the second plaintiff Wedmora Church Street Pty Ltd, which was known as Wedmora Pty Limited until 7 November 2005, when it changed its name to Citylink Construction Group Australia Pty Ltd, and then to its present name on 7 June 2006. The first defendant Bruce Stuart Oaklands is the sole director of Wedmora, Daniel Touma having resigned as a director on 19 January 2005 and Julie Touma having resigned on 9 December 2004. The sole shareholder in Wedmora is Citylink Developments Pty Ltd. The liquidators were oringally appointed as voluntary administrators of Wedmora at a creditors meeting on 27 July 2006 in place of Geoffrey David McDonald, who had been appointed voluntary administrator on 20 July 2006.