In the matter of PM Sulcs & Associates Pty Limited (in liquidation) [2012] NSWSC 689

Supreme Court New South Wales

Medium Neutral Citation: In the matter of PM Sulcs & Associates Pty Limited (in liquidation) [2012] NSWSC 689 Hearing dates: 18 June 2012 Decision date: 22 June 2012 Jurisdiction: Equity Division - Corporations List Before: Black J Decision: Liquidators directed to bring in a form of order to give effect to judgment within 7 days. Catchwords: CORPORATIONS - Winding up - Question arising during winding up - Application by liquidators to court for direction - Application by liquidators for approval of entry into deed of release - Merits of deed of release - Corporations Act 2001 (Cth) s 511 - Whether it would be "just and beneficial" for court to determine question or exercise a power. Legislation Cited: - Corporations Act 2001 (Cth) ss 477(2A), 477(2A)-(2B), 477(2B), 479(3), 511, 511(1), 556 - Legal Profession Act 2004 (NSW) s 570 Cases Cited: - Re Bauhaus Pyrmont Pty Ltd (in liq) [2007] NSWSC 936; (2007) 64 ACSR 646 - Firth v Centrelink [2003] NSWSC 564; (2002) 55 NSWLR 451 - GB Nathan & Co Pty Ltd (in liq) (1991) 24 NSWLR 674; 5 ACSR 673; 9 ACLC 1291 - Handberg (in his capacity as liquidator of S & D International Pty Ltd (in liq)) v MIG Property Services Pty Ltd [2010] VSC 336; (2010) 79 ACSR 373 - Re Addstone Pty Ltd (in liq) (1997) 25 ACSR 357 - Re Drax; Savile v Drax [1903] 1 Ch 781 - Re Ansett Australia Ltd (admins apptd) and Korda [2002] FCA 90; (2002) 115 FCR 409; 40 ACSR 433 - Sanderson v Classic Car Insurances Pty Ltd (1985) 10 ACLR 115; (1986) 4 ACLC 114 - Simpson v Rowe [2011] VSC 149 Category: Principal judgment Parties: John Sheahan & Ian Lock (First Plaintiff) PM Sulcs & Associates Pty Limited (in liquidation) (Second Plaintiff) Daustp Pty Limited (in liquidation) (First Defendant) Dominic Oliveri (Second Defendant) Representation: Counsel: K. Williams/F. Maher (Plaintiffs) M. Fisher (solicitor) (First Defendant) Solicitors: O'Neill Partners (Plaintiffs) Clayton Utz (First Defendant) File Number(s): 12/120704