Hall v Poolman [2009] NSWCA 64

Reported Decision: 254 ALR 333228 FLR16471 ACSR 13975 NSWLR 99

New South Wales Court of Appeal

CITATION: Hall v Poolman [2009] NSWCA 64

HEARING DATE(S): 28 November 2008

JUDGMENT DATE: 31 March 2009

JUDGMENT OF: Spigelman CJ; Hodgson JA; Austin J

DECISION: 1. Leave to appeal granted. 2. Orders 1(a)-(d) made by his Honour Justice Palmer on 15 February 2008 set aside.

CATCHWORDS: APPEAL – appeal – general principles – interference with discretion of court below – re-exercise of discretion - CORPORATIONS – winding up – winding up voluntarily – liquidators – supervision of liquidators by the court – inquiry under s 536(1)(a) Corporations Act 2001 (Cth) – faithful performance of duties - CORPORATIONS – winding up – winding up voluntarily – liquidators – supervision of liquidators by the court – inquiry under s 536(1)(b) Corporations Act 2001 (Cth) – complaint – whether a complaint was made - CORPORATIONS – winding up winding up voluntarily – liquidators – supervision of liquidators by the court – inquiry under s 536(3) Corporations Act 2001 (Cth) – liquidators to answer an inquiry - CORPORATIONS – winding up – liquidators – duties and liabilities – in voluntary winding up – factors relevant to the discretion to ordering an inquiry under s 536 Corporations Act 2001 (Cth) – size of anticipated return to creditors – position of creditors – proportionality between cost and recovery – failure to apply for directions before commencement of the proceedings – litigation funding - STATUTORY INTERPRETATION – acts of parliament – interpretation – s 536(1)(a), s 536(1)(b), s 536(3) Corporations Act 2001 (Cth)

Australian Securities and Investments Commission Act 2001 (Cth) Bankruptcy Act 1914 (UK) Bankruptcy Act 1966 (Cth) Civil Procedure Act 2005 Companies Act 1896 (Vict) LEGISLATION CITED: Companies Act 1936 Companies Code Companies (Winding Up) Act 1890 (UK) Corporations Act 2001 (Cth) Supreme Court (Corporations) Rules 1999 Uniform Civil Procedure Rules 2005 Uniform Companies Act 1961