CGU Workers v Interphase [2007] NSWSC 744

New South Wales Supreme Court

CITATION : CGU Workers v Interphase [2007] NSWSC 744 This decision has been amended. Please see the end of the judgment for a list of the amendments.

HEARING DATE(S) : 2nd July 2007 JUDGMENT OF : Hammerschlag J

EX TEMPORE JUDGMENT DATE : 2 July 2007

DECISION : Leave granted to liquidator to appoint himself as administrator together with anciliary orders to facilitate administration

CATCHWORDS : CORPORATIONS - Winding up - Application under s 436B (2) Corporations Act 2001 by liquidator for leave to appoint himself as administrator and for ancilliary orders under s 447 A (1) to avoid duplication

LEGISLATION CITED : Corporations Act 2001

Cobar Mines Pty Ltd (in liquidation) (1998) 30 ACSR 125 CASES CITED : Rupert Company v Chameleon Mining ML (2005) NSWSC 719 Peter Ngan v KB Constructions Pty Ltd (2006) NSWSC 1040

PARTIES : CGU Workers Compensation (NSW) Limited Interphase Corporation Pty Ltd (in liquidation)

FILE NUMBER(S) : SC 2352/2006

COUNSEL : P. Cutler, for the liquidator

SOLICITORS : PH Legal

- 1 - IN THE SUPREME COURT OF NEW SOUTH WALES EQUITY DIVISION CORPORATIONS LIST

HAMMERSCHLAG J

2 JULY 2007

02352/2006 CGU WORKERS COMPENSATION (NSW) LTD (AGENT FOR THE NSW WORKCOVER SCHEME) –V- INTERPHASE CORPORATION PTY LTD (IN LIQUIDATION) JUDGMENT 1 HIS HONOUR: This is an application pursuant to s. 436B(2) of the Corporations Act 2001 by the liquidator of Interphase Corporation Pty Ltd (in liquidation) for leave to appoint himself as administrator. I was assisted by brief written submissions from Mr Cutler for the liquidator. 2 On the application, the affidavit of the liquidator, Murray Godfrey, of 17 May 2007 was read. Also tendered on the application was his consent dated 28 June 2007 to act as administrator. 3 The authorities establish two things; firstly, the test is not a high one; Cobar Mines Pty Ltd (in liquidation) (1998) 30 ACSR 125; secondly, the principal consideration is whether the liquidator's appointment is attendant with any of the disqualificatory matters set out in s.448C(1) of the Corporations Act: see Rupert Company v Chameleon Mining ML [2005] NSWSC 719 and Peter Ngan v KB Constructions Pty Ltd [2006] NSWSC 1040. 4 The proposed appointment here is free of those disqualificatory matters. 5 In the circumstances it is appropriate in my view to make the order sought. 6 Orders are also sought under s. 447A that the requirement for the meeting of creditors under s. 439E be dispensed with. It is appropriate, in the circumstances, to avoid duplication in steps already taken, that such an order be made, as well as orders to facilitate efficient administration by using the proofs of debt of creditors received by the liquidator in the liquidation to establish the quantum of claims in the administration; Rupert Company v Chameleon Mining ML at par 9. 7 I make the orders in the short minutes of order as amended and initialled by me, dated today's date and placed with the papers. 8 The meeting pursuant to s. 439A of the Corporations Act 2001 is to be convened to take place no later than 16 July 2007. 9 I stand the applicant's interlocutory process filed 17 May 2007 over to the Corporations List on Monday 27 August 2007. 10 These orders may be taken out forthwith. **********