In the matter of Sales Express Pty Ltd (Administrators Appointed) [2014] NSWSC 460

Supreme Court New South Wales

Medium Neutral Citation: In the matter of Sales Express Pty Ltd (Administrators Appointed) [2014] NSWSC 460 Hearing dates: Tuesday, 22 April 2014 Decision date: 22 April 2014 Jurisdiction: Equity Division - Corporations List Before: Brereton J Decision: (1) Pursuant to s 447A(2)(b) of the Corporations Act the administration of the first defendant, Sales Express Proprietary Limited is to end. (2) The first defendant Sales Express Proprietary Limited be wound up in insolvency and Richard John Hewson and Nicholas Harwood of level 25 to 26 Riverside Centre, 123 Eagle Street, Brisbane, Queensland be appointed liquidators Catchwords: CORPORATIONS - external administration - winding up - administration under Corporations Act Pt 5.3A - voluntary administration imposed by director in his own interests - where proposed DOCA offers no benefit for creditors who support it, and the only credit or who might benefit opposes it - whether administration involves an abuse of the provisions of Pt 5.3A - held, it does. Legislation Cited: (Cth) Corporations Act 2001, s 447A Cases Cited: Blacktown City Council v Macarthur Telecommunications Pty Ltd [2003] NSWSC 883; (2007) 47 ACSR 391 Deputy Commissioner of Taxation v Alternative Business Solutions (AUST) Pty Limited) [2006] FCA 400 Re Indopal Pty Limited (1987) 12 ACLR 54 Spacorp v Australia Pty Ltd v Fitzgerald [2001] VSC 61; (2001) 19 ACLC 1979 St Leonards Property Pty Limited v Ambridge Investments Pty Ltd (2004) 210 ALR 265; (2004) 50 CSR 443; [2004] NSWSC 851 Workers Compensation Nominal Insurer v Perfume Empire Proprietary Limited [2011] NSWSC 379 Category: Principal judgment Parties: Rank Arena Group (Australia) Pty Ltd (plaintiff) Sales Express Pty Ltd (defendant) Representation: Counsel: R S Angyal SC (plaintiff) A W Smith (defendant) Solicitors: Results Legal (plaintiff) Norman Waterhouse (defendant) File Number(s): 2014/69569