In the matter of Kavia Holdings Pty Limited (Administrators Appointed) (Receivers and Managers appointed) & Ors [2013] NSWSC 1269

Supreme Court New South Wales

Medium Neutral Citation: In the matter of Kavia Holdings Pty Limited (Administrators Appointed) (Receivers and Managers appointed) & Ors [2013] NSWSC 1269 Hearing dates: 25, 26 July 2013; 8, 20 August 2013 Decision date: 05 September 2013 Jurisdiction: Equity Division - Corporations List Before: Bergin CJ in Eq Decision: Orders to be made for delivery up of books and records of the Companies and for delivery of boat to the plaintiffs. Catchwords: [CORPORATIONS] - [RECEIVERS AND MANAGERS] - whether Receivers and Managers entitled to orders for delivery up of books and records of various Companies - whether asset of Company sold at undervalue [SHIPPING] - transfer of title of a Sunseeker Manhattan 62 pursuant to a Bill of Sale in accordance with the Shipping Registration Act 1981 (Cth) - registration certificate issued by Registrar of Ships - where boat valued at over $1 million and sold for $1 - whether sale in breach of statutory duties and fiduciary duties - whether boat held on trust by transferee Legislation Cited: Corporations Act 2001 (Cth) Shipping Registration Act 1981 (Cth) Shipping Registration Regulations 1981 (Cth) Supreme Court Act 1970 Cases Cited: Behnke v Bede Shipping Co Ltd [1927] 1 KB 649 Bluecorp Pty Ltd (in liq) v ANZ Executors and Trustee Company Ltd (1995) 18 ACSR 566 Commonwealth Bank of Australia v ACES Sogutlu Holdings Pty Ltd [2013] NSWSC 1184 Hall v Sherman (2001) 165 FLR 1 Kent v SS "Maria Luisa" (No 2) (2003) 130 FCR 12 Redland Bricks Ltd v Morris [1970] AC 652 Tisand Pty Ltd v The Owners of the Ship MV Cape Moreton (Ex Freya) (2005) 143 FCR 43 Category: Principal judgment Parties: Stephen James Parbery and Marcus William Ayres in their capacity as Joint and Several Receivers and Managers of Kavia Holdings Pty Limited (Administrators Appointed) (Receivers and Managers Appointed), Rocks Catering Pty Limited (Administrators Appointed) (Receivers and Managers Appointed), BVH Management Pty Ltd (Administrators Appointed) (Receivers and Managers Appointed), Marsico Holdings Pty Ltd (Administrators Appointed) (Receivers and Managers Appointed), J & J O'Brien Pty Limited (Administrators Appointed) (Receivers and Managers Appointed), Batent Holdings Pty Ltd (Administrators Appointed) (Receivers and Managers Appointed), Aldonet Pty Limited (Administrators Appointed) (Receivers and Managers Appointed) (First Plaintiffs)