TNT Building Trades Pty Limited v Benelong Developments Pty Limited (administrators appointed) [2012] NSWSC 766

Supreme Court New South Wales

Medium Neutral Citation: TNT Building Trades Pty Limited v Benelong Developments Pty Limited (administrators appointed) [2012] NSWSC 766 Hearing dates: 12 and 13 June 2012 Decision date: 09 July 2012 Jurisdiction: Equity Division - Corporations List Before: Black J Decision: Parties to bring in short minutes to give effect to judgment within 14 days. Plaintiff to pay the costs of the proceedings. Catchwords: CORPORATIONS - Creditors' meeting - Resolution of meeting - Corporations Act 2001 (Cth) s 600A(2)(a) - Application to set aside resolution of creditors' meeting. CORPORATIONS - Termination of deed of company arrangement - Whether deed should be terminated by Court - Interests of creditors of company as a whole - Whether winding up would allow more favourable outcome or better return to creditors than deed of company arrangement and whether deed of company arrangement would be contrary to the interests of or prejudicial to creditors as a whole. Legislation Cited: - Building and Construction Industry Security of Payment Act 1999 (NSW) - Corporations Act 2001 (Cth) Pt 5.3A, ss 435C, 439A, 439C, 445D, 445D(1), 445D(1)(f), 445D(1)(g), 447A, 447A(2), 461(k), 600A, 600A(1)(a), 600A(1)(b), 600A(1)(c), 600A(1)(c)(ii), 600A(2), 600(2)(a) - Duties Act 1997 (NSW) s 211 - Partnership Act 1892 (NSW) s 20(1) - Real Property Act 1900 (NSW) s 42 - Stamp Duties Act 1920 (NSW) s 84 Cases Cited: - ACN 075 911 410 Pty Ltd v Almaty Pty Ltd [2011] NSWSC 333 - Aloridge Pty Ltd v Christianos (1994) 13 ACSR 99; 12 ACLC 237 - Arnautovic v Cvitanovic [2011] FCA 809; (2011) 199 FCR 1 - B & B Forklifts Pty Ltd v CBFC Ltd [2008] NSWSC 271; (2008) 216 FLR 294 - BGC Contracting Pty Ltd v Kimberley Gold Pty Ltd [2000] WASC 264; (2000) 35 ACSR 633; 18 ACLC 894 - Bellissimo v JCL Investment Pty Ltd [2009] NSWSC 1260 - Bidald Consulting Pty Ltd v Miles Special Builders Pty Ltd [2005] NSWSC 1235; (2005) 226 ALR 510 - Boral Recycling Pty Ltd v Wake [2009] NSWSC 712 - Canny Gabriel Castle Jackson Advertising Pty Ltd v Volume Sales (Finance) Pty Ltd [1974] HCA 22; (1974) 131 CLR 321 - Chief Commissioner of Stamp Duties (NSW) v Buckle [1998] HCA 4;(1998) 192 CLR 226 - Composite Buyers Ltd v State Bank of New South Wales (1990) 3 ACSR 196 - Deputy Commissioner of Taxation v Portinex Pty Ltd [2000] NSWSC 99; (2000) 156 FLR 453; 34 ACSR 391 - Deputy Commissioner of Taxation v Woodings (1995) 13 WAR 189; 16 ACSR 266; 13 ACLC 469 - Emanuele v Australian Securities Commission (1995) 63 FCR 54; 141 ALR 506; 19 ACSR 1 - Emanuele v Australian Securities Commission [1997] HCA 20; (1997) 188 CLR 114; 144 ALR 359 - Fleet Broadband Holdings Pty Ltd v Paradox Digital Pty Ltd [2005] WASC 261; (2005) 228 ALR 598 - Hagenvale Pty Ltd v Depela Pty Ltd (1995) 17 ACSR 139; 13 ACLC 885 - Joseph Khoury & Sons v Zambena Pty Ltd [1999] NSWCA 402; (1999) 217 ALR 527 - Kantfield Pty Ltd v Plastamatic (Australia) Pty Ltd (1994) 14 ACSR 687 - Kirwan v Cresvale Far East Ltd (in liq) [2002] NSWCA 395; (2002) 44 ACSR 21; (2003) 21 ACLC 371 - Lemery Holdings Pty Ltd v Reliance Financial Services Pty Ltd [2008] NSWSC 1344; (2008) 74 NSWLR 550 - Linen House Pty Ltd v Rugs Galore Australia Pty Ltd [1999] VSC 126 - Livingston v Commissioner of Stamp Duties (Qld) (1960) 107 CLR 411 - McVeigh v Linen House Pty Ltd (No 2) [2000] VSCA 4; (2000) 1 VR 31; 18 ACLC 311 - M & G Oyster Supplies Pty Ltd v Nonchalont Pty Ltd (admin apptd) (1995) 19 ACSR 27 - Mills v United Counties Bank Ltd [1912] 1 Ch 231 - Octavo Investments Pty Ltd v Knight (1979) 144 CLR 360 - Raulfs v Fishy Bites Pty Ltd [2012] NSWCA 135 - Re Connolly Bros Ltd (No 2) [1912] 2 Ch 25 - Re Mustang Marine Australia Services Pty Ltd (admins apptd) [2010] NSWSC 1429 - Re Paradise Constructors Pty Ltd (admin apptd) [2004] VSC 92; (2004) 8 VR 171; 182 FLR 135 - Security Trust Co v Royal Bank of Canada [1976] AC 503; [1976] 2 WLR 437 - Sogelease Australia Ltd v Boston Australia Ltd (1991) 26 NSWLR 1 - Southern Wine Corporation Pty Ltd (in liq) v Frankland River Olive Co Ltd [2005] WASCA 236; (2005) 31 WAR 162 - Spacorp Australia Pty Ltd v Fitzgerald [2001] VSC 61; (2001) 19 ACLC 979 - Trim Perfect Australia Pty Ltd (in liq) v Albrook Constructions Pty Ltd [2006] NSWSC 153 - United Builders Pty Ltd v Mutual Acceptance Ltd [1980] HCA 43; (1980) 144 CLR 673 - Vacuum Oil Co Pty Ltd v Wiltshire [1945] HCA 37; (1945) 72 CLR 319 Texts Cited: - W D Duncan and W M Dixon, The Law of Real Property Mortgages, The Federation Press, 2007 Category: Principal judgment Parties: TNT Building Trades Pty Limited (Plaintiff) Benelong Developments Pty Limited (administrators appointed) (First Defendant) Burbank Montague Pty Limited (Second Defendant) Riad Tayeh (Third Defendant) Antony de Vries (Fourth Defendant) Representation: Counsel: G. Carolan (Plaintiff) D. Smallbone (Defendants) Solicitors: Harris & Co (Plaintiff) Somerset Ryckmans (Defendants) File Number(s): 11/393181