In the matter of bCode Pty Limited [2013] NSWSC 384

Supreme Court New South Wales

Medium Neutral Citation: In the matter of bCode Pty Limited [2013] NSWSC 384 Hearing dates: Tuesday 26 March 2013 Decision date: 26 March 2013 Jurisdiction: Equity Division - Corporations List Before: Brereton J Decision: Decline to make orders sought in paragraph 4 of interlocutory process filed 15 March 2013. Balance of interlocutory processes stood over 15 April 2013. Catchwords: CORPORATIONS - external administration - insolvency - winding up - application for injunction to restrain liquidator from selling certain assets - where applicant seeking reversal of liquidator's decision to reject a proposal for a deed of company arrangement as final relief - Whether there is a seriously arguable case for final relief reversing the liquidator's decision to reject the proposal for a deed of company arrangement - Whether there is a seriously arguable case that the liquidator acted in bad faith in the conduct of the sale Legislation Cited: (Cth) Corporations Act 2001, s 545, s 1321 Cases Cited: Jay-O-Bees Pty Ltd (in liq), Re Rosseau Pty Ltd (in liq) v Jay-O-Bees (in liq) [2004] NSWSC 818 Re Burnells Pty Ltd (in liq) v Walsh [1979] Qd R 440 Re Equity Funds of Australia (in liq) (1976) 2 ACLR 238 Spedley Securities Ltd, Ex parte Australian National Industries Ltd (No 2) (1991) 4 ACSR 552 UTSA Pty Ltd (in liq) v Ultra Tune Australia Pty Ltd [1997] 1 VR 667 Category: Interlocutory applications Parties: Futurecorp International Pty Limited (plaintiff/applicant) Mr SW Hathway (first defendant/liquidator) Mr TG Van Der Velde (second defendant/liquidator) Representation: Counsel: Mr PL Dodson (plaintiff/applicant) Mr GP McNally SC (defendants/liquidators) Solicitors: E Berman & Co (plaintiff/applicant) Breene & Breene (defendants/liquidators) File Number(s): 2013/ 79833