In the matter of Smouha Fabrics Pty Limited (in liquidation) [2012] NSWSC 1585

Supreme Court New South Wales

Medium Neutral Citation: In the matter of Smouha Fabrics Pty Limited (in liquidation) [2012] NSWSC 1585 Hearing dates: 4 December 2012 Decision date: 18 December 2012 Jurisdiction: Equity Division - Corporations List Before: Black J Decision: Directions made entitling First Plaintiffs to distribute certain amounts to certain priority creditors of the Second and Third Plaintiffs. The First Plaintiffs' costs of the application be costs in the winding up of the Second and Third Plaintiffs. The directions made be stayed to 4pm on 30 January 2013. Catchwords: CORPORATIONS - Winding up - Corporations Act 2001 (Cth) ss 479(3) and 511 - Application for directions in relation to matters arising under winding up - Whether an appropriate case for the court to give directions. Legislation Cited: - Corporations Act 2001 (Cth) ss 9, 51C, 443B, 443D, 443E, 443F, 479(3), 511(1), 556(1), 556(1)(e), 556(1)(g)-(h), 560, 561, 561(1)(e), 561(1)(g), 561(1)(h) - Personal Property Securities (Corporations and Other Amendment) Act 2010 (Cth) Cases Cited: - Australia and New Zealand Banking Group Ltd v TJF EBC Pty Ltd [2006] NSWSC 25; (2006) 224 ALR 490 - Australasian Conference Association Ltd v Mainline Constructions Pty Ltd (in liq) [1978] HCA 45; (1978) 141 CLR 335 - B&B Budget Forklifts Pty Ltd v CBFC Ltd [2008] NSWSC 271; (2008) 216 FLR 294 - Barclays Bank Ltd v Quistclose Investments Ltd [1970] AC 567 - Commonwealth v Rocklea Spinning Mills Pty Ltd [2005] FCA 902; (2005) 145 FCR 220 - Deputy Commissioner for Corporate Affairs v Abbott (1980) CLC 40-667 - Jelin Pty Ltd v Johnson (1987) 5 ACLC 463 - Peter Cox Investments Pty Ltd (in liq) v International Air Transport Association [1999] FCA 27; (1999) 161 ALR 105 - Raulfs v Fishy Bite Pty Ltd [2012] NSWCA 135 - Re MF Global Australia Ltd (in liq) [2012] NSWSC 994 - Re Spectrum Plus Ltd (in liq) [2005] 2 AC 680 - Twinsectra Ltd v Yardley [2002] UKHL 12; [2002] 2 AC 194 Category: Principal judgment Parties: Bradley John Tonks and John Vouris (First Plaintiffs) Smouha Fabrics Pty Limited (in liquidation) (Second Plaintiff) White Stallion Pty Limited (in liquidation) (Third Plaintiff) Undercover Wear Australia Limited (Interested Party) Representation: Counsel: D. Sulan (Plaintiffs) A. Catford (Interested party - Undercover Wear Limited) Solicitors: O'Neill Partners (Plaintiffs) File Number(s): 12/288947