In the matter of HIH Underwriting and Insurance (Australia) Pty Limited (in liquidation and subject to a scheme of arrangement) [2013] NSWSC 2014

Supreme Court New South Wales

Medium Neutral Citation: In the matter of HIH Underwriting and Insurance (Australia) Pty Limited (in liquidation and subject to a scheme of arrangement) [2013] NSWSC 2014 Hearing dates: 20 December 2013 Decision date: 20 December 2013 Jurisdiction: Equity Division - Corporations List Before: Black J Decision: Orders made under Corporations Act 2001 (Cth) s 562A(4). Catchwords: CORPORATIONS - Winding up - Insolvency - Proceeds of contract of reinsurance - Application for orders under Corporations Act 2001 (Cth) s 562A(4) - Whether "just and equitable" to make orders sought. Legislation Cited: Corporations Act 2001 (Cth) s 562A(4) Cases Cited: - Re Amaca Pty Limited v McGrath and Anor as liquidators of HIH Underwriting and Insurance (Australia) Pty Limited [2011] NSWSC 90; (2011) 82 ACSR 281 Texts Cited: CORPORATIONS - Winding up - Insolvency - Proceeds of contract of reinsurance - Application for orders under Corporations Act 2001 (Cth) s 562A(4) - Whether "just and equitable" to make orders sought. Category: Interlocutory applications Parties: Amaca Pty Limited (under NSW administered winding up) (First Plaintiff) Amaba Pty Limited (under NSW administered winding up) (Second Plaintiff) ABN 60 Pty Limited (under NSW administered winding up) (Third Plaintiff) Messrs A G McGrath & C J Honey as liquidators of the HIH Group of Companies (First Defendant) HIH Underwriting and Insurance (Australia) Pty Limited (in liquidation and subject to scheme of arrangement) (Second Defendant) Representation: Counsel: K. Rees (Plaintiffs) J.L. Barlow (solicitor - Defendants) Solicitors: Henry Davis York (Plaintiffs) Ashurst Australia (Defendants) File Number(s): 2010/247943