In the matter of FAI Investments Pty Ltd (in liq); In the matter of Valusi Pty Ltd (in liq) [2014] NSWSC 1300

Supreme Court New South Wales

Medium Neutral Citation: In the matter of FAI Investments Pty Ltd (in liq); In the matter of Valusi Pty Ltd (in liq) [2014] NSWSC 1300 Hearing dates: Friday, 7 March 2014 Decision date: 07 March 2014 Jurisdiction: Equity Division - Corporations List Before: Brereton J Decision: Distribution of assets in specie allowed Catchwords: CORPORATIONS - winding up - liquidators - final distribution of assets - liquidator's remuneration - whether in specie distribution can be made Legislation Cited: (Cth) Corporations Act 2001, s 479(3) (NZ) Companies Act 1993 s 248(1)(d) Cases Cited: FAI Car Owners Mutual Insurance Company Proprietary Limited [2009] NSWSC 1350 (2009); 262 ALR 552 FAI Car Owners Mutual Insurance Co Proprietary Limited [2009] NSWSC 1417 Re HIH Services Proprietary Limited (In Liq) [2012] NSWSC 1188 Pacific Brands Sport and Leisure Proprietary Limited v Underworks Proprietary Limited [2006] FCAFC; (2006) 149 FCR 395; (2006) 230 ALR 56 Texts Cited: Marcus Smith QC and Nico Leslie, The Law of Assignment, (2nd ed 2013, Oxford University Press) G J Tolhurst, and Elizabeth Peden, Commercial Issues in Contract Law: Papers from the Commercial Law Quarterly 20th Anniversary Conference, (2008) chapter 4 Category: Principal judgment Parties: Anthony Gregory McGrath and Christopher John Honey in their capacity as liquidators of FAI Investments Pty Ltd (In Liquidation) ACN 001 133 099 (applicants) Representation: Counsel: J Scarcella (solicitor) (applicants) Solicitors: Ashurst Australia (applicants) File Number(s): 2001/58773 2003/85453