In the matter of Australian Hotel Acquisition (in liquidation) and Other Companies; In the matter of David John Frank Lombe in his capacity as Liquidator of Australian Hotel Acquisition Pty Ltd (receivers & managers) (in liquidation) and Other Companies [2011] NSWSC 1374

Supreme Court New South Wales

Medium Neutral Citation: In the matter of Australian Hotel Acquisition (in liquidation) and Other Companies; In the matter of David John Frank Lombe in his capacity as Liquidator of Australian Hotel Acquisition Pty Ltd (receivers & managers) (in liquidation) and Other Companies [2011] NSWSC 1374 Hearing dates: 4/11/2011 Decision date: 17 November 2011 Jurisdiction: Equity Division Before: Acting Justice Windeyer Decision: The Court makes the following orders: (1)In both proceedings 2011/275121 and 2011/335763 Order the matters be heard together the evidence in one being evidence in the other so for as relevant. (2)In proceedings 2011/275121 Order the originating process be dismissed. The costs of the plaintiff be costs in the winding up of the companies and borne by the companies in equal shares. (3)In proceedings 2011/335763 Order the claims in paragraphs 1 and 2 of the originating process be dismissed. Stand over the determination of the remaining claims for further argument. Catchwords: CORPORATIONS - Application for extension of time to investigate voidable transactions - No evidence of voidable transactions - Just and fair in the circumstances- Meaning of exceptional circumstances. Application for pooling of assets of seven companies- Meaning of business carried on jointly where seven companies are part of a larger joint venture- Meaning of specific property- Requirement for a company to presently own particular property. Legislation Cited: Corporations Act 2001 Cases Cited: Allen & Anor v Feather Products Pty Ltd (2008) 72 NSWLR 597 Australian Securities and Investments Commission v Karl Suleman Enterprises Pty Ltd (In Liq) & Ors (2004) 52 ACSR BP Australian Pty Ltd v Brown (2003) NSWCA 216 Brown v DML Resources (2001) 52 NSWLR 685 Pegulan Floor Coverings Pty Ltd v Carter (1997) 24 ACSR 651 Greig v Stramit Corporation Pty Ltd [2004] 2 Qd R 17 Category: Principal judgment Parties: Australian Hotel Acquisition Limited; David John Frank Lombe in his capacity as Liquidator of Australian Hotel Acquisition Limited (receivers and managers in liquidation) and 6 other companies Representation: Counsel: Mr J Stevenson SC, Ms V Whittaker (Plaintiff) Mr B Katekar (Barcroft Holdings Limited) (creditor) Solicitors: Sparke Helmore (Plaintiff) File Number(s): 2011/00335763; 2011/00275121