In the matter of National Buildplan Group Pty Ltd (subject to deed of company arrangement) [2014] NSWSC 146

Supreme Court New South Wales

Medium Neutral Citation: In the matter of National Buildplan Group Pty Ltd (subject to deed of company arrangement) [2014] NSWSC 146 Hearing dates: 13 February 2014 Decision date: 28 February 2014 Jurisdiction: Equity Division - Corporations List Before: Black J Decision: Direction made for plaintiff to distribute funds held in retention account. Orders made for relevant costs to be paid from retention account. Further direction made for notification to be given to creditors identified as claimants or potential claimants in respect of retention funds. Liberty reserved for interested creditors to apply to vary or revoke directions. Catchwords: CORPORATIONS - voluntary administration - deed of company arrangement - application by deed administrator for directions in respect of the proper distribution of funds held in an account under Corporations Act 2001 (Cth) s 447D - where an account was established by company prior to entering into administration to hold retention monies for subcontractors - whether monies in account was held on trust for subcontractors - whether distribution of mixed funds in account should be made on a pro-rata basis - whether administrator's remuneration, costs and expenses should be payable from account - whether remaining parties' costs in relation to proceedings should be payable from account. Legislation Cited: - Corporations Act 2001 (Cth) ss 439A, 447D - Trustee Act 1925 (NSW) s 63 Cases Cited: - 13 Coromandel Place Pty Ltd v CL Custodians Pty Ltd (in liq) [1999] FCA 144; (1999) 30 ACSR 377 - Alphena Pty Ltd (in liq) v PS Securities Pty Ltd (as trustee of the Joseph Family Trust) [2013] NSWSC 447; (2013) 94 ACSR 160 - Alphena Pty Ltd (in liq) v PS Securities Pty Ltd (as trustee of the Joseph Family Trust) [2013] NSWSC 447; (2013) 94 ACSR 160 - Australian Securities and Investments Commission v Rowena Nominees Pty Ltd [2003] WASC 112; (2003) 45 ACSR 424 - Clayton's case (1816) 1 Mer 572; 35 ER 781 - Re Ansett Australia Ltd and Korda [2002] FCA 90; (2002) 115 FCR 409; 40 ACSR 433 - Re Ansett Australia Ltd [2002] FCA 639; (2002) 41 ACSR 605 - Re Application of Sutherland [2004] NSWSC 798; (2004) 50 ACSR 297 - Re Australian Hotel Acquisition (in liq) [2011] NSWSC 1441 - Re Berkeley Applegate (Investment Consultants) Ltd (in liq); Harris v Conway [1989] 1 Ch 32 - Re Berkeley Applegate (Investment Consultants) Ltd (in liq) [1989] Ch 32 - Re GB Nathan & Co Pty Ltd (in liq) (1991) 24 NSWLR 674 - Re Greater West Insurance Brokers Pty Ltd [2001] NSWSC 825; (2001) 39 ACSR 301 - Re Green (as voluntary administrators of Bevillesta Pty Ltd) [2011] NSWSC 417; (2011) 254 FLR 324; 84 ACSR 215 - Re Hundy (liquidator); In the matter of Enviro Friendly Products Pty Ltd (in liq) [2013] FCA 852 - Re MF Global Australia Ltd (in liq) [2012] NSWSC 994; (2012) 267 FLR 27 - Re MF Global Australia Ltd (in liq) (No 2) [2012] NSWSC 1426 - Re One.Tel Networks Holdings Pty Ltd [2001] NSWSC 1065; (2001) 40 ACSR 83 - Re Suco Gold Pty Ltd (in liq) (1983) 33 SASR 99 - Re Sutherland; French Caledonia Travel Service Pty Limited (in liq) [2003] NSWSC 1008; (2003) 59 NSWLR 361 Category: Interlocutory applications Parties: Peter Paul Krejci and Martin John Green each in their capacity as Deed Administrators of National Buildplan Group Pty Ltd (subject to deed of company arrangement) (Plaintiff) National Buildplan Group Pty Ltd (subject to deed of company arrangement) (Defendant) Representation: Counsel: V E Whittaker (Administrators) P Kulevski (Interested Parties) Solicitors: Colin Biggers & Paisley (Administrators) Clayton Utz (Interested Parties) File Number(s): 2013/309542