Onefone Pty Ltd v One.Tel Ltd (in liquidation) & 2 Ors [2006] NSWSC 1434

Reported Decision : 61 ACSR 236

New South Wales Supreme Court

CITATION : Onefone Pty Ltd v One.Tel Ltd (in liquidation) & 2 Ors [2006] NSWSC 1434

HEARING DATE(S) : 17 & 27/11/06

JUDGMENT DATE : 28 November 2006

JURISDICTION : Equity Division Corporations List

JUDGMENT OF : White J

EX TEMPORE JUDGMENT DATE : 11/28/2006

DECISION : 1. Make orders in accordance with paragraphs 1(a), (b), (d) and (e) of the amended interlocutory process; 2. Make an order in terms of paragraph 5; 3. Order that the proper costs and expenses of the applicant in making this application be paid out of the assets of the company.

CATCHWORDS : CORPORATIONS – Winding-up – Liquidators – Examinations by liquidator – Special purpose liquidator appointed to investigate renounceable rights issue by company now in liquidation – Application by special purpose liquidator for orders permitting public examination of such persons as special purpose liquidator considers appropriate – Whether special purpose liquidator justified in applying for issue of examination summonses – Where substantial sums have already been paid to special purpose liquidator by way of remuneration and reimbursement – Where issue of examination summonses likely to result in further substantial expense – Where special purpose liquidator able to rely on information emanating from other proceedings in conduct of investigation – Where evidence in support of application scant – Application refused.

LEGISLATION CITED : Corporations Act 2001 (Cth) Fair Trading Act 1987 (NSW)

Onefone Australia Pty Ltd v One.Tel Limited (2006) 57 ACSR 279 Onefone Australia Pty Ltd v One.Tel Limited (2006) 58 ACSR 466 CASES CITED : Murdoch v Weston (as special purpose liquidator of One.Tel Ltd (in liq) (2004) 49 ACSR 166 ASIC v Rich [2005] NSWSC 706 ASIC v Rich [2006] NSWSC 266