In the matter of Blue Mountains Helicopters Pty Ltd (in liq) [2013] NSWSC 1630

Supreme Court New South Wales

Medium Neutral Citation: In the matter of Blue Mountains Helicopters Pty Ltd (in liq) [2013] NSWSC 1630 Hearing dates: 2 October 2013 (further submissions 17, 24 October 2013) Decision date: 07 November 2013 Jurisdiction: Equity Division - Corporations List Before: Black J Decision: Orders made approving the liquidator's entry into a litigation funding agreement and retainer agreement. Catchwords: CORPORATIONS - winding up - liquidators - funding agreements - application by liquidator seeking approval to enter litigation funding agreement and retainer agreement - whether the liquidator has seriously arguable claims - whether liquidator has adequately consulted with creditors. PROCEDURE - costs - general rule that liquidator's costs of application be costs in the liquidation - where another party given leave to be heard under r 2.13(1)-(2) Supreme Court (Corporations) Rules. Legislation Cited: - Civil Procedure Act 2005 (NSW) s 56 - Corporations Act 2001 (Cth) s 477(2B) - Supreme Court (Corporations) Rules 1999 (NSW) r 2.13, 2.13(1), 2.13(2) Cases Cited: - Alphena Pty Ltd (in liq) v PS Securities Pty Ltd as trustee of the Joseph Family Trust [2013] NSWSC 447; (2013) 94 ACSR 160 - Barlaw Pty Ltd v Crouch [2013] FCA 961 - Collie v Merlaw Nominees Pty Ltd (in liq) [2001] VSC 39; (2001) 37 ACSR 361 - Dayroll Pty Ltd v Dayroll NSW Pty Ltd [2009] NSWSC 895 - Empire Australia Nominees Pty Ltd v Vince [2000] VSC 324; (2000) 35 ACSR 167 - Fortress Credit Corporation (Aust) (II) Pty Ltd v Fletcher [2011] FCAFC 89; (2011) 85 ACSR 38 - GA Listing & Maintenance Pty Limited (1994) 15 ACSR 308 - Grossman v E Katz Manufacturing Jewellers (ACT) Pty Ltd [2004] NSWSC 1224; (2004) 52 ACSR 198 - Hall v Poolman [2007] NSWSC 1330; (2007) 65 ACSR 123 - Hall v Poolman [2009] NSWCA 64; (2009) 71 ACSR 139 - Lemery Holdings Pty Ltd v Reliance Financial Services [2008] NSWSC 1344; (2008) 74 NSWLR 550 - Pascoe; Re Matrix Group Ltd (in liq) [2011] FCA 1117 - Re Gerard Cassegrain & Co Pty Ltd [2013] NSWSC 257 - Re Leigh; AP & PJ King Pty Ltd (in liq) [2006] NSWSC 315 - Re McGrath and Anor in their Capacity as Liquidators of HIH Insurance Limited [2010] NSWSC 404; (2010) 78 ACSR 405 - 13 Coromandel Place Pty Ltd v CL Custodians Pty Ltd (in liq) [1999] FCA 144; (1999) 30 ACSR 377 Category: Interlocutory applications Parties: Blue Mountains Helicopters Pty Ltd (in liquidation) (Plaintiff) Hume Road Pty Ltd (First Defendant) Moore Street Pty Ltd (Second Defendant) Neil Robert Cussen (in his capacity as liquidator of Blue Mountains Helicopters Pty Ltd (in liq) (Applicant) Representation: Counsel: S. Golledge (Applicant) M. Ashhurst SC/A. Chee (Intervenor) Solicitors: Champion Legal (Applicant) DIB Lawyers (Intervenor) File Number(s): 2013/182261