Telfer v Astarra Securities Pty Ltd [2010] NSWSC 682

New South Wales Supreme Court

CITATION : Telfer v Astarra Securities Pty Ltd [2010] NSWSC 682

HEARING DATE(S) : 21/06/10

JUDGMENT DATE : 21 June 2010

JURISDICTION : Equity Division Corporations List

JUDGMENT OF : Barrett J

EX TEMPORE JUDGMENT DATE : 21 June 2010

(1) Order that Geoffrey Trent Hancock of BDO Kendalls be appointed liquidator of Astarra Securities Pty Limited ACN 109 078 319 provisionally. DECISION : (2) Order that Geoffrey Trent Hancock of BDO Kendalls be appointed liquidator of Astarra Nominees (Australia) Pty Limited ACN 003 983 917 provisionally. (3) The originating process is to stand over before the Corporations Judge at 10am on 26 July 2010. (4) Costs of the interlocutory process be reserved.

CATCHWORDS : CORPORATIONS - winding up - application for appointment of provisional liquidator - company paralysed - evidence indicates likely insolvency - whether appointment will have impact on company's trusteeship - order made

LEGISLATION CITED : Corporations Act 2001 (Cth), ss 248B, 461(1)(a), 462(2)(c), 472(2), 513A

CATEGORY : Principal judgment

CIC Insurance Ltd v Hannan Pty Ltd [2001] NSWSC 437; (2001) 38 ACSR 245 CASES CITED : Hillig v Darkinjung Local Aboriginal Land Council [2006] NSWSC 1371; (2006) 205 FLR 450 Re Crust n Crumbs Bakers (Wholesale) Pty Ltd [1992] 2 QdR 76

Richard John Patteson Telfer - First Plaintiff ACT Super Management Pty Ltd as trustee of Astarra Superannuation Plan, Astarra Pooled Superannuation Trust, Astarra Personal Pension Plan, Employers Federation of NSW Superannuation Plan, My Retirement Plan - Second Plaintiff PARTIES : Astarra Funds Management Pty Ltd - Third Plaintiff Astarra Securities Pty Limited - First Defendant Astarra Nominees (Australia) Pty Limited - Second Defendant