In the matters of RH Trevan Pty Ltd (in liquidation); Trevan Auto Service Pty Ltd (in liquidation); Trevan Car Sales Pty Ltd (in liquidation) [2013] NSWSC 1445

Supreme Court New South Wales

Medium Neutral Citation: In the matters of RH Trevan Pty Ltd (in liquidation); Trevan Auto Service Pty Ltd (in liquidation); Trevan Car Sales Pty Ltd (in liquidation) [2013] NSWSC 1445 Hearing dates: 23 September 2013 Decision date: 30 September 2013 Jurisdiction: Equity Division - Corporations List Before: Black J Decision: Orders made granting special leave to the plaintiff to make a distribution of the surplus in the winding up in specified proportions. Orders made that the plaintiff's costs of the application be paid out of the assets of the company. Orders made that the books and records held by the plaintiff resulting from his appointment as liquidator of the companies may be destroyed not sooner than one month after any deregistration of the companies. Catchwords: CORPORATIONS - winding up - liquidators - order sought granting special leave to liquidator to make a distribution of a surplus in the winding up to contributories - whether appropriate in all the circumstances for the distribution to be made to the contributories - order sought that books and records in the liquidator's possession may be destroyed under s 542(3) Corporations Act 2001 (Cth) - where high cost to retain records for the statutory five year period -order sought for release of liquidator and deregistration of companies - where final return to contributories has not yet been made. Legislation Cited: - Corporations Act 2001 (Cth) ss 11, 461(1)(k), 480(d), 481(3), 485(2), 488, 488(1), 488(2), 542, 542(1), 542(3), 542(3)(a), 542(4) - Company Law Review Act 1988 (Cth) - Supreme Court (Corporations) Rules 1999 (NSW) rr 7.5(2), 7.5(3), 7.5(4), 7.10 - Corporations Regulations 2001 (Cth) reg 5.6.71(1) - Income Tax Assessment Act 1936 (Cth) s 262A Cases Cited: - Brealey v Shields [2009] NSWSC 1148 - CGU Workers Compensation (NSW) Ltd v Ascom Service Automation (Australia) Pty Ltd [2005] NSWSC 747 - Deputy Commissioner of Taxation v Tideturn Pty Ltd [2001] NSWSC 217; (2001) 37 ACSR 152 - Re DS Millard & Son Pty Ltd (1997) 24 ACSR 71; (1997) 15 ACLC 808 - Re FAI Car Owners Mutual Insurance Company Pty Ltd [2009] NSWSC 1350; (2009) 76 ACSR 164 - Re Trussted Frames & Trusses Pty Ltd [2012] NSWSC 787 - Re Wayland as Liquidator of ABC Containerline NV (in liq) [2005] NSWSC 13; (2005) 52 ACSR 750 - Singer v Trustee of the Property of Munro [1981] 3 All ER 215 Category: Interlocutory applications Parties: Ian James Purchas as liquidator of RH Trevan Pty Ltd, Trevan Auto Service Pty Ltd and Trevan Car Sales Pty Ltd (all in liquidation) (Plaintiff) Representation: Counsel: J. Baird (Plaintiff) RPV Carey (Contributor - Mr Jack Trevan) Solicitors: TressCox (Plaintiff) McCartney Young Lawyers (Contributor) File Number(s): 2008/280633