Funds First Pty Ltd & 2 ors v Owners Corporation Strata Plan 66609 & 10 ors [2008] NSWSC 422

New South Wales Supreme Court

CITATION : Funds First Pty Ltd & 2 ors v Owners Corporation Strata Plan 66609 & 10 ors [2008] NSWSC 422

HEARING DATE(S) : 7 March 2008 JURISDICTION : Equity Division Expedition List

JUDGMENT OF : Brereton J

EX TEMPORE JUDGMENT DATE : 7 March 2008

DECISION : Leave granted to commence separate proceedings claiming leave to proceed.

CATCHWORDS : CORPORATIONS – external administration – winding up – creditor's voluntary winding up – leave to proceed against company in liquidation – whether application appropriately brought by motion in proceedings in which no relief will be sought against company – where proceedings if continued will jeopardise only asset of company – where liquidator neither consents nor opposes leave to proceed.

LEGISLATION CITED : (CTH) Corporations Act 2001, ss 446A, 471B, 500

CATEGORY : Procedural and other rulings

4213/07 Fundsfirst Pty Ltd (first plaintiff) Cannes Management Pty Ltd (second plaintiff) Kerry Baranov (third plaintiff) Owners Corporation Strata Plan 66609 (first defendant) Greg Cook (second defendant) Phoung TH Nguyen (third defendant) Andrew Smith (fourth defendant) Ms B Stevens (fifth defendant) Joseph Jean Espriritu (sixth defendant) PARTIES : Leanne Marie Scanes (seventh defendant) Clive Mancey (eighth defendant) Dianne Mancey (ninth defendant) Ronald Wood (tenth defendant) R Yip (eleventh defendant) 1839/08 Owners Corporation Strata Plan 66609 (first plaintiff) Greg Cook (second plaintiff) Phoung TH Nguyen (third plaintiff) Thelma Cook (fourth plaintiff) F&R (No 18) Pty Ltd (in liq) (first defendant) Steven Nicols (Liquidator) (second defendant)