In the matter of Provident Capital Limited (recs & mgrs. apptd) (in liq) [2015] NSWSC 713

Supreme Court New South Wales

Medium Neutral Citation: In the matter of Provident Capital Limited (recs & mgrs. apptd) (in liq) [2015] NSWSC 713 Hearing dates: 2 June 2015 Decision date: 02 June 2015 Jurisdiction: Equity Division - Corporations List Before: Black J Decision: Order that the Plaintiffs be released from the implied undertaking concerning the use of documents contained in the Schedules to the Interlocutory Process, and stay that order for short period. Order that the Plaintiffs give notice of the release to interested parties (if any). Grant leave for third parties to bring an interlocutory application to vary or set aside these orders. Catchwords: PROCEDURE – production of documents to court – where Plaintiff sought release from implied undertaking to use documents produced in connection with examinations under the Corporations Act 2001 (Cth) – where Plaintiffs are persons bringing representative proceedings – whether third parties should be notified. Legislation Cited: - Corporations Act 2001 (Cth) ch 2L, Pt 5.9, Pt 5.9 div 1, ss 283DA(b), 283F(1) Cases Cited: - BCI Finances Pty Ltd (in liq) v Commissioner of Taxation [2014] FCA 898 - Liberty Funding Pty Ltd v Phoenix Capital Ltd [2005] FCAFC 3 - National Mutual Holdings Pty Ltd v Sentry Corporation [1990] FCA 156 - Re Allco Finance Group Ltd (recs and mgrs appt) (in liq) [2012] FCA 495; (2012) 88 ACSR 326 - Re Eurostar Pty Ltd (in liq) [2003] NSWSC 633 - Re New Cap Reinsurance Corporation Holdings Ltd [2001] NSWSC 835 - Springfield Nominees Pty Ltd v Bridgeland Securities Ltd (1992) 38 FCR 217 Category: Procedural and other rulings Parties: John Smith and Rosemary Smith (Applicants) Christopher Clarke Hill and Marcus William Ayres in their capacity as Receivers and Managers of Provident Capital Limited (Receivers and Managers Appointed) (In Liquidation) (Respondents) Representation: Counsel: A S Martin SC/G M Drew (Applicants) M Catchpoole (solicitor – Respondents)