BL & GY International Co Ltd v Hypec Electronics Pty Ltd [2010] NSWSC 959

Reported Decision : 79 ACSR 558

New South Wales Supreme Court

CITATION : BL & GY International Co Ltd v Hypec Electronics Pty Ltd [2010] NSWSC 959

HEARING DATE(S) : 10/08/10, 11/08/10

JUDGMENT DATE : 31 August 2010

JURISDICTION : Equity Division Corporations List

JUDGMENT OF : Barrett J

1. Order that order 6 of the orders made herein on 16 December 2004 be permanently stayed. DECISION : 2. Order that order 7 of the orders made herein on 16 December 2004 be set aside. 3. Order that the interlocutory process filed by Hypec Electronics Pty Ltd on 14 May 2010 be dismissed. 4. Costs reserved for future argument.

CATCHWORDS : CORPORATIONS - winding up - liquidators - control of liquidators - court's statutory jurisdiction to inquire into liquidator's conduct - scope and effect of the court's power - purpose of the court's power - the process of inquiry - inquiry ordered in 2004 upon liquidator's removal by court - death of liquidator before inquiry undertaken - whether scope of inquiry should be extended - whether order for inquiry should be permanently stayed

Bankruptcy Act 1966 (Cth), s 179(1) Companies Act 1862 (UK), s 165 Companies Act 1936 (NSW), ss 235, 236 Companies Act 1961 (Vic), s 278 LEGISLATION CITED : Companies Act 1981 (Cth), s 420 Companies (Winding Up) Act 1890 (UK), ss 11, 14, 20, 22, 25 Companies Winding Up Rules 1890 (UK), rule 68 Corporations Act 2001 (Cth), ss 473(1), 477(2A), 477(2B), 477(6), 479(3), 480, 536, 561(1), 598, 1321 Uniform Civil Procedure Rules 2005 (NSW), rule 36.15(1)