In the matter of Wan Ze Property Development (Aust) Pty Limited [2013] NSWSC 1977

Supreme Court New South Wales

Medium Neutral Citation: In the matter of Wan Ze Property Development (Aust) Pty Limited [2013] NSWSC 1977 Hearing dates: 17 September 2013 Decision date: 17 September 2013 Jurisdiction: Equity Division - Corporations List Before: Brereton J Decision: Notice of motion for appointment of receivers by way of equitable execution dismissed. Catchwords: PROCEDURE - Judgments and orders - enforcement of judgments and orders - equitable execution - receivers CORPORATIONS - members rights and remedies - derivative actions - where liquidators appointed - where liquidator was prosecuting concurrent bankruptcy proceedings against defendants - whether leave to sue in name of company would be granted - notice of motion seeking appointment of receiver by way of equitable execution over assets of defendants for purpose of satisfying amount due to second plaintiff under earlier orders. Legislation Cited: (Cth) Corporations Act 2001 s 181, s 182, s 236, s 237, s 471B Cases Cited: Carpenter v Pioneer Park Pty Limited [2008] NSWSC 551; (2008) 71 NSWLR 577 Chahwan v Euphoric Pty Limited [2008] NSWCA 52; 227 FLR 43 Hilliard v Eiffe [1874] LR 7 HL 39 In the matter of Wan Ze Development (Aust) Pty Ltd [2012] NSWSC 821 In the matter of Wan Ze Property (Aust) Pty Limited (in liquidation) [2013] NSWSC 189 In the matter of Wan Ze Property (Aust) Pty Limited (in liquidation) [2013] NSWSC 395 Pearl Coast Divers Pty Limited v Cossack Pearls Pty Limited [2008] FCA 927; 249 ALR 591 Ragless v IPA Holdings Pty Limited (in liq) [2008] SASC 90; (2008) 65 ACSR 700 Ramage v Waclaw (1988) 12 NSWLR 84 Category: Interlocutory applications Parties: Hong Jiang (first plaintiff) Wan Ze Property Development (Aust) Pty Ltd (second plaintiff) Yongan Xie (third plaintiff) Ke Qin Ren (first defendant) Pei Xu (second defendant) Yi Cheng Jiang (third defendant) Gloconnect Pty Ltd (fourth defendant) Representation: Counsel: Mr Smallbone (first, third plaintiffs) Mr Downey (solicitor) (second plaintiff) Mr Ellicott (defendants) Solicitors: Austin Haworth & Lexon Legal (first, third plaintiffs) Downeys Lawyers Pty Ltd (second plaintiff) James Lee Solicitors (defendants) File Number(s): 2011/51745