McMahon's Management Consultants Pty Limited v The Trustee of the Property of Bryan Francis McMahon [2007] NSWSC 1502

New South Wales Supreme Court

CITATION : McMahon's Management Consultants Pty Limited v The Trustee of the Property of Bryan Francis McMahon [2007] NSWSC 1502

HEARING DATE(S) : 13 December 2007

JUDGMENT DATE : 13 December 2007

JURISDICTION : Equity Division

JUDGMENT OF : Windeyer J at 1

DECISION : Order that limited partnership be wound up under the Corporations Act 2001. Order that appointment of receivers of law practice be terminated and granted leave to act as liquidator.

CATCHWORDS : CORPORATIONS – winding up in insolvency of limited partnership as Part 5.7 body - benefits of winding up – unsecured creditors – priority of employee claims - PARTNERSHIP – whether limited partnership should be wound up under Corporations Act or dissolved under Partnership Act

LEGISLATION CITED : Corporations Act 2001 (Cth) Partnership Act 1892

McMahon's Management Consultants Pty Limited (Plaintiff) PARTIES : The Trustee of the property of Bryan Francis McMahon a bankrupt (First Defendant) Jackper Pty Limited (Second Defendant) Tradeway Accommodation Pty Limited as Trustee for Tradeway Enterprises Trust No 2 (Third Defendant)

FILE NUMBER(S) : SC 4866 of 2007

J T Johnson (Plaintiff) COUNSEL : S Nadel (First Defendant) No Appearance (Second and Third Defendants)

Kemp Strang (Plaintiff) Malcolm Johns & Company (First Defendant) SOLICITORS : No Appearance (Second and Third Defendants) C Shrewsbury (Amicus Curiae - Law Society of New South Wales) A Smith (Australian Taxation Office)