Jamieson Louttit v Kolln [2007] NSWSC 970

New South Wales Supreme Court

CITATION : Jamieson Louttit v Kolln [2007] NSWSC 970

HEARING DATE(S) : 19/10/06, 09/02/07

JUDGMENT DATE : 31 August 2007

JURISDICTION : Equity Division Corporations List

JUDGMENT OF : White J

DECISION : See paragraph 63 of judgment.

CATCHWORDS : CORPORATIONS – Voluntary administration – Deeds of company arrangement – Application by administrator for directions under s 447D of the Corporations Act 2001 (Cth) – Powers of administrator under deed – Whether deed administrator has power to declare a dividend – Whether deed administrator has power to effect loans from companies under deeds of administration to enable a shareholder to buy out shares of second shareholder – Held that deed administrator has no power to declare dividend – Held that deed administrator has power to effect loans to shareholder. - CORPORATIONS – Winding up – Application for order under s 447A to modify operation of Part 5.3A of the Corporations Act 2001 (Cth) – Where company clearly solvent – Modification sought inconsistent with object of Part 5.3A – Modification would not operate fairly - Application refused. - (Cth) Corporations Act 2001, ss 447A, 447D

Corporations Act 2001 (Cth) LEGISLATION CITED : Income Tax Assessment Act 1936 (Cth) Corporations Regulations 2001 (Cth)

Jamieson Louttit PARTIES : v Kolln; In the Matter of Trician Pty Ltd (subject to deed of company arrangement) v Nollk Pty Ltd (subject to deed of company arrangement)

FILE NUMBER(S) : SC 4477/06

Plaintiff: S A Wells COUNSEL : 1st Defendant: J E Richards 2nd Defendant: D Durston