In the matter of Gerard Cassegrain & Co Pty Ltd (in liquidation) [2014] NSWSC 1292

Supreme Court New South Wales

Medium Neutral Citation: In the matter of Gerard Cassegrain & Co Pty Ltd (in liquidation) [2014] NSWSC 1292 Hearing dates: 16 September 2014 Decision date: 19 September 2014 Jurisdiction: Equity Division - Corporations List Before: Black J Decision: Orders made approving entry into funding agreement. Catchwords: CORPORATIONS - winding up - litigation funding agreement - orders sought under s 477(2B) Corporations Act 2001 (Cth) approving entry into litigation funding agreement - whether entry into the agreement is proper exercise of the liquidator's power - whether appropriate to give direction under s 479(3) Corporations Act protecting liquidator from claim of breach of duty in respect of the funding agreement - entry into retainer and costs agreement. Legislation Cited: - Corporations Act 2001 (Cth) ss 477(2B), 479(3) Cases Cited: - Pascoe; Re Matrix Ground Ltd (in liq) [2011] FCA 117 - Re Gerard Cassegrain & Co Pty Ltd (in liq) (Supreme Court (NSW), Black J, 8 November 2012, unrep) - Re Gerard Cassegrain & Co Pty Ltd (in liq) [2013] NSWSC 257 - Re Gerard Cassegrain and Co Pty Ltd (in liq) [2013] NSWSC 1293 Category: Interlocutory applications Parties: Christopher Mel Chamberlain in his capacity as liquidator of Gerard Cassegrain & Co Pty Ltd (in liquidation) (First Plaintiff) Gerard Cassegrain & Co Pty Ltd (in liquidation) (Second Plaintiff) Representation: Counsel: M Ashhurst SC (Plaintiffs) Solicitors: McCabes (Plaintiffs) File Number(s): 2012/344260