Leslie John Schirato -v- SCW Pty Ltd (In Liquidation) [2012] NSWSC 541

Supreme Court New South Wales

Medium Neutral Citation: Leslie John Schirato -v- SCW Pty Ltd (In Liquidation) [2012] NSWSC 541 Hearing dates: 24 April 2012 Decision date: 24 April 2012 Jurisdiction: Equity Division - Corporations List Before: Hammerschlag J Decision: Liquidator granted leave to distribute a surplus in the winding up of the first defendant. The entry into of the agreement effected by the liquidator's acceptance of Piper Alderman's engagement letter of 13 April 2011 for the provision of legal services approved by the Court. Catchwords: CORPORATIONS - Corporations Act 2001 (Cth) s 488(2) - application under s 488(2) for special leave to distribute surplus funds in circumstances where shareholders and contributories consent to distribution and where company has adequate funds to meet any possible further obligations - HELD - surplus funds appropriate to be distributed - operation of orders subject to receipt of notice from Commissioner of Taxation pursuant to s 260-45 of Schedule 1 of the Taxation Administration Act 1953 (Cth)

CORPORATIONS - Corporations Act 2001 (Cth) - application under s 477(2B) for retrospective approval of agreement between liquidator and his solicitors - HELD - agreement approved by the Court Legislation Cited: Corporations Act 2001 (Cth) Taxation Administration Act 1953 (Cth) Category: Principal judgment Parties: Leslie John Schirato - Respondent/First Plaintiff Schirato Pty Ltd - Second Plaintiff SCW Pty Ltd (In Liquidation) - Applicant/First Defendant Clelia Cantarella (formerly Winton) - Second Defendant Canwin (Aust) Pty Ltd - Third Defendant Representation: Counsel: V.F. Kerr - Applicant/First Defendant J.R. Williams - Respondent/First Plaintiff A.S. Martin SC with J.E. Richards - Second and Third Defendants Solicitors: King & Wood Mallesons - Respondent/First Plaintiff Piper Alderman - Applicant/First Defendant Andrew Priestley & Associates - Second and Third Defendants File Number(s): 2011/85140