In the matter of Bevillesta Pty Limited (In Voluntary Administration) Application under Corporations Act: Martin John Green and Peter Paul Krejci as Voluntary Administrators of Bevillesta Pty Limited (ACN 008 428 162) [2011] NSWSC 417

Supreme Court New South Wales

Medium Neutral Citation: In the matter of Bevillesta Pty Limited (In Voluntary Administration) Application under Corporations Act: Martin John Green and Peter Paul Krejci as Voluntary Administrators of Bevillesta Pty Limited (ACN 008 428 162) [2011] NSWSC 417 Hearing dates: 11 and 13 April 2011, 17 May 2011, 9 June 2011 Decision date: 10 June 2011 Jurisdiction: Equity Division - Corporations List Before: Bergin CJ in Eq Decision: Directions given Catchwords: [CORPORATIONS] - Application by Administrators for directions - nature of proceedings - proposal for Deed of Company Arrangement and Creditors' Trust Deed - ASIC Regulatory Guide - Status of Guide - whether "compelling commercial or legal reason" for structure exists - whether such reason may be gleaned from factors other than proposer's intentions - whether reason needs to be "compelling". Legislation Cited: Corporations Act 2001 (Cth) Trustee Act 1925 (NSW) Cases Cited: Parkview Constructions Pty Ltd v Tayeh and Others [2009] NSWSC 186; 71 ACSR 65 Ansett Australia Ltd and Others (all admin apptd) and Korda and Another (as admin) (2002) 40 ACSR 433 Blacktown City Council v Macarthur Telecommunications Pty Ltd (admin apptd) (2003) 47 ACSR 391 Bovis Lend Lease Pty Ltd v Wily (2003) 45 ACSR 612 Editions Tom Thompson Pty Ltd v Pilley (1997) 24 ACSR 617 Gray v BNY Trust Company of Australia Limited (Formerly Guardian Trust Australia Limited) (2009) 76 NSWLR 586 In Re Dartnell; Sawyer v Goddard [1895] 1 Ch 474 Krejci as liquidator of Eaton Electrical Services (2006) 58 ACSR 403 Re J W Murphy & P C Allen; Re BPTC Ltd (In liq) (1996) 19 ACSR 569 Re Open Telecommunications Ltd (subject to Deed of Company Arrangement) [2003] NSWSC 1198 Sanderson v Classic Car Insurances Pty Ltd (1985) 10 ACLR 115 Sydney Land Corp Pty Ltd v Kalon Pty Ltd (1997) 26 ACSR 427 Young v Sherman (2002) 170 FLR 86 Category: Principal judgment Parties: Martin John Green and Peter Paul Krejci as Voluntary Administrators of Bevillesta Pty Limited (Plaintiffs) Representation: Counsel: C Harris SC (Plaintiffs) F Assaf (Australian Securities and Investments Commission) RD Marshall (Top Ryde Funding Pty Limited) Solicitors: Colin Biggers & Paisley (Plaintiffs) File Number(s): 2011/99655