Ramsay & Anor v Featherston Resources Limited & Ors [2013] NSWSC 1923

Supreme Court New South Wales

Medium Neutral Citation: Ramsay & Anor v Featherston Resources Limited & Ors [2013] NSWSC 1923 Hearing dates: 9 December 2013 Decision date: 10 December 2013 Jurisdiction: Equity Division - Corporations List Before: Black J Decision: Interim orders set aside. Plaintiffs to pay the costs of the defendants and receivers of and incidental to the application on an indemnity basis. Catchwords: CORPORATIONS - management and administration - application for appointment of a receiver - where receiver appointed by interlocutory orders made ex parte - whether jurisdictional requirements of s 1323 Corporations Act 2001 (Cth) were satisfied. PROCEDURE - judgments and orders - application to set aside orders made appointing - where orders made in the absence of a party - whether the Court's discretion properly exercised. PROCEDURE - costs - departing from the general rule - order for costs on indemnity basis - whether the conduct of the application was unreasonable. Legislation Cited: - Australian Securities and Investments Commission Act 2001 (Cth) - Civil Procedure Act 2005 (NSW) ss 56, 98 - Corporations Act 2001 (Cth) ss 1323, 1323(1)(a), 133(1)(b), 1323(1)(c), 1323(1)(h), 1323(4), Pt 2F.1A - Supreme Court Act 1970 (NSW) ss 66, 67 - Supreme Court (Corporations) Rules 1999 (NSW) r 2.13 - Uniform Civil Procedure Rules 2005 (NSW) rr 36.15, 36.16, 42.2 Cases Cited: - Australian Securities and Investments Commission; Re Richstar Enterprises Pty Ltd (No 5) [2006] FCA 684; (2006) 58 ACSR 6 - Bond Brewing Holdings Ltd v National Australia Bank Ltd (1990) 1 ACSR 445 - Colgate Palmolive Co v Cussons (1993) 46 FCR 225 - Commonwealth v ABC 2 Group Pty Ltd [2008] NSWSC 1383; (2008) 69 ACSR 228 - Corporate Affairs Commission v Lombard International Pty Ltd (1987) 5 ACLC 269 - Corporate Affairs Commission v Smithson [1984] 3 NSWLR 547; (1984) 9 ACLR 371 - Goumas v McIntosh [2012] NSWSC 713 - Hamod v State of New South Wales [2002] FCAFC 97; (2002) 188 ALR 659 - Lahoud v Lahoud [2006] NSWSC 126 - Liverpool City Council v Estephen [2009] NSWCA 161 - Nationwide News Pty Ltd v Samalot Enterprise Pty Ltd (1986) 5 NSWLR 227 - Ng v Chong [2010] NSWSC 127 Category: Interlocutory applications Parties: David Ramsay (First Plaintiff) Glenn Tetley (Second Plaintiff) Featherston Resources Limited (First Defendant) Adveco Fertilisers Pty Limited (Second Defendant) Envirofocus Limited (Third Defendant) Representation: Counsel: C. Botsman (Plaintiffs) A.G. Martin (First and Second Defendants) D.K. Ratnam (Solicitor - proposed Fourth Defendant) J.S. Emmett (Receivers) Solicitors: Ashcrofts (Plaintiffs) E.Law Legal Services (First and Second Defendants) HWL Ebsworths (Proposed Fourth Defendant) McCabes (Receivers) File Number(s): 2013/364099