In the matter of Cosmopolitan Constructions Pty Limited (in liquidation) [2013] NSWSC 780

Supreme Court New South Wales

Medium Neutral Citation: In the matter of Cosmopolitan Constructions Pty Limited (in liquidation) [2013] NSWSC 780 Hearing dates: 14 May 2013 Decision date: 14 May 2013 Jurisdiction: Equity Division - Corporations List Before: Black J Decision: Declaration that the defendant has surrendered any security it may have held over any of the property of the company. Catchwords: CORPORATIONS - winding up - liquidators - liquidators seek direction or declaration from the Court that the defendant has surrendered any security it may have held over any property of the company - whether the secured creditor, by voting in respect of their whole debt or claim, must be taken to have surrendered their security. Legislation Cited: Corporations Act 2001 (Cth) ss 511, 554E Corporations Regulations 2001 (Cth) reg 5.6.24, 5.6.24(3) Cases Cited: - Provident Capital Ltd v Kelso Supplies Pty Ltd [2008] FCA 868; (2008) 66 ACSR 643 - Re Parbery & Ors (as liquidators of Trio Capital Ltd (in liq)) [2012] NSWSC 597; (2012) 88 ACSR 700 - Re Purchas (as liquidator of Astarra Asset Management Pty Ltd (in liq)) [2011] NSWSC 91 - Woodgate v Garard Pty Ltd [2010] NSWSC 508; (2010) 78 ACSR 468 - Young v ACN 081 162 512 Pty Ltd [2005] NSWSC 139; (2005) 52 ACSR 629 Category: Interlocutory applications Parties: Nicholas Craig Malanos and Christopher Damien Darin as liquidators of Cosmopolitan Constructions Pty Limited (in liquidation) (Plaintiffs) Crane Distribution Limited (Defendant) Representation: Counsel: J. Darams (Plaintiffs) Solicitors: Eakin McCaffery Cox (Plaintiffs) File Number(s): 2013/57808