In the matter of Bestcare Foods Ltd (subject to a Deed of Company Arrangement) [2014] NSWSC 1630

Supreme Court New South Wales

Medium Neutral Citation: In the matter of Bestcare Foods Ltd (subject to a Deed of Company Arrangement) [2014] NSWSC 1630 Hearing dates: 15 October 2014 Decision date: 19 November 2014 Jurisdiction: Equity Division - Corporations List Before: Black J Decision: Order made for review to be undertaken by Registrar limited only to fees comprising a maximum amount of $100,000 approved at the creditors' meeting on 3 March 2011. Catchwords: CORPORATIONS - voluntary administration - deeds of company arrangement - remuneration of administrators and deed administrators - application for review of remuneration under Corporations Act 2001 (Cth) s 449E(2) - whether it is just for review of remuneration to proceed - discretionary considerations - delay and acquiescence - informed consent of creditors to relevant resolutions approving remuneration. Legislation Cited: - Corporations Act 2001 (Cth) ss 439A, 443D, 447E, 449E, 449E(1)(b), 449E(1A)(b), 449E(2), 449E(4), 449E(6), 1480 - Corporations Amendment (Insolvency) Act 2007 (Cth) - Corporations Amendment (Insolvency) Bill 2007 - Evidence Act 1995 (NSW) s 136 - Supreme Court (Corporations) Rule 1999 (NSW) rr 9.2A, 9.2A(7) Cases Cited: - BestCare Foods Ltd v Origin Energy LPG Ltd (formerly Boral Gas (NSW) Pty Ltd) [2013] NSWSC 1673 - Korda, Re; Stockford Ltd [2004] FCA 1682; (2004) 140 FCR 424 - Mayne v Jaques [1960] HCA 23; (1960) 101 CLR 169 - Paul's Retail Pty Ltd v Morgan [2009] NSWSC 1222; (2009) 76 ACSR 26 - Paul's Retail Pty Ltd v Morgan [2010] NSWCA 217; (2010) 79 ACSR 580 - Re Anderson Group Pty Ltd; Mann v Anderson [2002] NSWSC 764; (2002) 20 ACLC 1607 - Re Joe & Joe Developments Pty Ltd (subject to a Deed of Company Arrangement) [2014] NSWSC 1444 - Re Kal Assay Southern Cross Pty Ltd (in liq) (1992) 9 ACSR 245 - Re Palmer; Ex parte Taylor (1988) 18 FCR 271 - Re Vplus Superstores Pty Ltd (in liq) [2013] NSWSC 662 - Strazdins v DNPW Pty Ltd [2013] FCA 1368 - Venetian Nominees Pty Ltd v Conlan (1998) 20 WAR 96 Category: Interlocutory applications Parties: Michael Anthony Goldring (Applicant) Richard Albarran, David Ross, Robert Elliott and David Ingram (Respondents) Representation: Counsel: G Laughton SC (Applicant) A G Martin (Respondents) Solicitors: Finn Roache (Applicant) Edwards Kirby Lawyers (Respondents) File Number(s): 2014/268364