In the matter of HIH Casualty & General Insurance Limited (in liquidation and subject to schemes of arrangement) [2015] NSWSC 924

Supreme Court New South Wales

Medium Neutral Citation: In the matter of HIH Casualty & General Insurance Limited (in liquidation and subject to schemes of arrangement) [2015] NSWSC 924 Hearing dates: On the papers Decision date: 14 July 2015 Jurisdiction: Equity Division - Corporations List Before: Black J Decision: Held that it is just and equitable to make the orders sought. Orders in accordance with the Short Minutes of Order submitted by the Plaintiffs 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 by the Plaintiffs. Legislation Cited: Corporations Act 2001 (Cth) ss 562A(1), 562A, 562A(2), 562A(3), 562A(4), 562A(5) Cases Cited: - Amaca Pty Ltd (under NSW administered winding up) v McGrath & Honey (as liquidators of the HIH Group of Companies) [2012] NSWSC 176 - AssetInsure Pty Ltd v New Cap Reinsurance Corporation Ltd (in liq) [2006] HCA 13; (2006) 225 CLR 331 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 Casualty and General Insurance Ltd (in liq and subject to schemes of arrangement) (Second Defendant) Representation: Solicitors: Henry Davis York (Plaintiffs) Ashurst Australia (Defendants) File Number(s): 2011/275715