NSW Caselaw
Reported Decision : (2006) 24 ACLC 1087
New South Wales Supreme Court
CITATION : Yanollee Pty Limited (In Liq) [2006] NSWSC 705
HEARING DATE(S) : 10/07/06
JUDGMENT DATE : 11 July 2006
JURISDICTION : Equity DIvision Corporations List
JUDGMENT OF : Barrett J
DECISION : Direction to liquidator as to distribution of surplus
CATCHWORDS : CORPORATIONS - winding up - members' voluntary winding up - surplus after debts, claims and expenses - "A" class shares only on issue - such shares expressed to have limited rights on winding up - whether holders of "A" class shares in any event entitled to whole surplus rateably
Companies Act 1862 (Eng), s.133(1) Companies Ordinance 1962 (ACT), s.18(1)(b) LEGISLATION CITED : Company Law Review Act 1998 (Cth) Corporations Act 2001 (Cth), ss.488(2), 493(2), 501, 511 Corporations Law, ss.1445, 1427(1)
Alleyn v Thurecht [1983] 2 Qd R 706 Birch v Cropper (1889) 14 App Cas 525 Dean-Willcocks v Soluble Solution Hydroponics Pty Ltd (1997) 42 NSWLR 209 Re Driffield Gas Light Company [1898] 1 Ch 451 at p.455 CASES CITED : Re Isle of Thanet Electricity Supply Co Ltd [1950] Ch 161 Re National Telephone Company [1914] 1 Ch 755 Re Plashett Pastoral Co Pty Ltd [1969] NSWR 243 Re William Bedford Ltd [1967] VR 490 Rees v Dominion Insurance Company of Australia Limited (1981) 6 ACLR 71 Seaton v Federal Hotels Ltd (1981) 29 SASR 290
PARTIES : John Spencer Thomas Curley as Liquidator of Yanollee Pty Limited - Applicant
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