In the matter of HIH Underwriting Insurance (Australia) Pty Ltd (in liquidation and subject to a scheme of arrangement) [2015] NSWSC 36

Supreme Court New South Wales

Medium Neutral Citation: In the matter of HIH Underwriting Insurance (Australia) Pty Ltd (in liquidation and subject to a scheme of arrangement) [2015] NSWSC 36 Hearing dates: In Chambers Decision date: 10 February 2015 Jurisdiction: Equity Division - Corporations List Before: Black J Decision: Orders made under Corporations Act 2001 (Cth) s 562A(4). Catchwords: CORPORATIONS – Winding up – Insolvency – Proceeds of contract of reinsurance – Application for orders under Corporations Act 2001 (Cth) s 562A(4) – Whether "just and equitable" to make orders sought. Legislation Cited: - Corporations Act 2001 (Cth) ss 562A, 562A(1), 562A(1)(a), 562A(1)(b), 562A(2), 562A(3), 562A(4), 562A(5), 562A(5)(d) - Evidence Act 1995 (NSW) s 91(1) Cases Cited: - Amaca Pty Ltd v McGrath as liquidators of HIH Underwriting and Insurance (Australia) Pty Ltd [2011] NSWSC 90 - Amaca Pty Ltd (under NSW administered winding up) v McGrath & Honey (as liquidators of the HIH Group of Companies) [2012] NSWSC 176; (2012) 87 ACSR 625 - Amaca Pty Ltd (under NSW administered winding up) v McGrath & Honey (as liquidators of HIH Group of Companies) [2012] NSWSC 1523; (2012) 92 ACSR 105 - Re HIH Underwriting Insurance (Australia) Pty Ltd (in liq) and subject to a scheme of arrangement [2014] NSWSC 484 Category: Procedural and other rulings Parties: Amaca Pty Ltd (under NSW administered winding up (First Plaintiff) Amaba Pty Ltd (under NSW administered winding up) (Second Plaintiff) ABN 60 Pty Ltd (under NSW administered winding up) (Third Plaintiff) Messrs A G McGrath & C J Honey as liquidators of the HIH Group of Companies (First Defendant) HIH Underwriting & Insurance (Australia) Pty Ltd (in liquidation and subject to a scheme of arrangement) Second Defendant) Representation: Counsel: