In the matter of Kimberley Securities Ltd (in liq) (rec and mgr apptd) [2014] NSWSC 297

Supreme Court New South Wales

Medium Neutral Citation: In the matter of Kimberley Securities Ltd (in liq) (rec and mgr apptd) [2014] NSWSC 297 Hearing dates: 3 March 2014 Decision date: 20 March 2014 Jurisdiction: Equity Division - Corporations List Before: Black J Decision: Orders will be made for termination of voluntary winding up if either additional funds are contributed to company through working capital or specified undertaking is provided to the Court within 7 days. Costs of application to be costs in deed of company arrangement of company. Liquidator to bring short minutes of order to give effect to this judgment. Catchwords: CORPORATIONS - winding up - orders sought for stay or termination of winding up where company subject to a deed of company arrangement - whether solvency established - whether there has been serious impropriety in conduct of company's affairs - whether winding up should be terminated. Legislation Cited: - Corporations Act 2001 (Cth) s 438D, 439A, 482, 482(1A), 533 Cases Cited: - Apostolou v VA Corporation of Australia Pty Ltd [2010] FCA 64; (2010) 77 ACSR 84 - Grocon Constructions Pty Ltd v Kimberley Securities Limited [2009] NSWSC 541; (2009) 72 ACSR 305 - Owners Strata Plan 70294 v LNL Global Enterprise Pty Ltd [2006] NSWSC 1386; (2006) 60 ACSR 646 - Prendergast v Rolcross (in liq) [2008] NSWSC 146 - QBE Workers' Compensation Pty Ltd v P Russell Enterprises Pty Ltd [2005] NSWSC 1128 - Re 311 Hume Highway Liverpool Fund Pty Ltd (in liq) [2013] NSWSC 465; (2013) 93 ACSR 683 - Re Kitchen Dimensions Pty Ltd (in liq) [2012] VSC 280 - Re Living Creatively Exhibitions Pty Ltd (in liq) (subject to deed of company arrangement) [2013] NSWSC 717 - Re Modena Imports Pty Ltd (in liq) [2010] NSWSC 739 - Re SNL Group Pty Ltd (in liq) [2010] NSWSC 797 - Re TMPL Pty Ltd (in liq) [2012] NSWSC 1059 - Re Warbler Pty Ltd (1982) 6 ACLR 526 - Sevior v Morgan [2012] VSC 480 - Von Risefer v Main Freight International Pty Ltd [2009] VSCA 179; (2009) 73 ACSR 427 Category: Interlocutory applications Parties: Michael Charles Hird in his capacity as liquidator of Kimberley Securities Ltd (in liq) (rec and mgr apptd) (Plaintiff) Representation: Counsel: J Darams (Plaintiff) Solicitors: Eakin McCaffery Cox (Plaintiff) File Number(s): 2013/372262