Lo v Nielsen & Moller (Autoglass) (NSW) Pty Ltd [2008] NSWSC 407

New South Wales Supreme Court

CITATION : Lo v Nielsen & Moller (Autoglass) (NSW) Pty Ltd [2008] NSWSC 407

HEARING DATE(S) : 30/04/08

JUDGMENT DATE : 2 May 2008

JURISDICTION : Equity Division Corporations List

JUDGMENT OF : Barrett J

DECISION : Order for appointment of special purpose liquidators to be made

CATCHWORDS : CORPORATIONS - winding up - creditors voluntary winding up - application for appointment of special purpose liquidator - whether court has jurisdiction to appoint - where significant creditor presents cogent case for investigation of dealings in period immediately before voluntary administration that led on to creditors voluntary winding up - that creditor lacks confidence in existing liquidator - creditor willing to fund investigations if undertaken by different liquidator - need for financial regime to be defined

LEGISLATION CITED : Corporations Act 2001 (Cth), Parts 5.3A, 5.9, ss 502, 503, 511, 564, 588R Corporations Regulations 2001 (Cth), regs 5.6.21(3), 5.6.21(4)

CATEGORY : Principal judgment

Advance Housing Pty Ltd v Newcastle Classic Development Pty Ltd (1994) 14 ACSR 230 McGrath; Re HIH Insurance Ltd [2006] NSWSC 385 Onefone Australia Pty Ltd v One.Tel Ltd [2003] NSWSC 1228; (2003) 48 ACSR 562 Onefone Pty Ltd v One.Tel Ltd [2006] NSWSC 815; (2006) 58 ACSR 466 CASES CITED : Re Cobar Mines Pty Ltd (unreported, NSWSC, Santow J, 22 June 1998) Re Eastern Properties Pty Ltd [1981] 1 NSWLR 499 Re Midland Land and Investment Corporation [1887] WN (Eng) 58 Re Obie Pty Ltd (No 4) (1984) 8 ACLR 967 Re Spedley Securities Ltd (1991) 4 ACSR 555