In the matter of LKM Capital Limited (receivers and managers appointed) ACN 091 379 930 [2013] NSWSC 1744

Supreme Court New South Wales

Medium Neutral Citation: In the matter of LKM Capital Limited (receivers and managers appointed) ACN 091 379 930 [2013] NSWSC 1744 Hearing dates: 23 October 2013 Decision date: 23 October 2013 Jurisdiction: Equity Division - Corporations List Before: Brereton J Decision: Order that the period of time for the applicant to apply for an order discharging the examination summons of the (NSW) Supreme Court (Corporations) Rules 1999 r 11.5(2) be extended to 3 October 2013. Order that the interlocutory process be otherwise dismissed with costs. Extend time for compliance with the order for production to 20 November 2013. Vacate the examinations appointed for 25 October 2013. Grant leave to the plaintiff to approach the Corporations Registrar for an alternative date for the examinations. Grant leave to amend the return date on the examination summons in accordance with the date appointed by the Registrar. Catchwords: CORPORATIONS - Application for extension of time in which to apply for order discharging examination summons - where extension amounts to four business days - no prejudice arising from delay - extension granted. CORPORATIONS - Application for leave to inspect affidavit filed in support of application for issue of examination summons - access to affidavit would not assist in illuminating purpose of its issue - access declined. CORPORATIONS - Whether examination summons an abuse of process - obtaining information about whether trustee has breached its duty and whether there are viable causes of action against it clearly within the examinable affairs of the company - examination summons not an abuse of process. CORPORATIONS - Application for order setting aside order for production - order for production not oppressive. Legislation Cited: (Cth) Corporations Act 2001 ss 283D, 283F, 596B, 596C (NSW) Supreme Court Corporations Rules 1999 r 11.4, 11.5 Cases Cited: Accord Pacific Holdings Pty Limited v Accord Pacific Land Limited [2011] NSWSC 1158 Affinity Capital Pty Limited [2011] NSWSC 1158 Ariff v Fong [2007] NSWCA 183; 63 ACSR 384 Meteyard v Love [2005] NSWCA 444; (2005) 65 NSWLR 36 NewTel Limited [2005] FCAFC 114; (2005) 54 ACSR 284 Worthley v England; Re Excel Finance Corp Ltd; Worthley v ASC (1994) 14 ACSR 407 Category: Interlocutory applications Parties: Sandhurst Trustees Limited & Kenneth Bruce McCaul (applicants) Charles Robert Hodges (plaintiff/respondent) Representation: Counsel: I Pike SC (applicants) A Martin SC and G Drew (plaintiff/respondent) Solicitors: Baker & McKenzie (applicants) Meridian Lawyers (plaintiff/respondent) File Number(s): 2013/277905