In the matter of Banksia Securities Limited (in liquidation) (receivers and managers appointed) [2015] NSWSC 1378

Supreme Court New South Wales

Medium Neutral Citation: In the matter of Banksia Securities Limited (in liquidation) (receivers and managers appointed) [2015] NSWSC 1378 Hearing dates: 14 September 2015 Decision date: 14 September 2015 Jurisdiction: Equity - Corporations List Before: Black J Decision: Reserve liberty to Mr Bolitho to bring any application in respect of the matters dealt with in the judgment of Black J within 7 days. Reserve liberty to the parties to apply. Reserve liberty to the parties to bring in agreed Short Minutes of Order to give effect to this judgment, or if there is no agreement, advise the Associate to Black J of the need for a relisting of the matter. Catchwords: CORPORATIONS – winding up – application to appoint liquidators as special purpose receivers of certain claims under s 283HB of the Corporations Act 2001 (Cth) – where appointment of receivers relates to rights and entitlements arising from proceedings in the Supreme Court of Victoria – whether to appoint liquidators as special purpose receivers and make other consequential orders. Legislation Cited: - Corporations Act 2001 (Cth) ss 283HA, 283HB, 283HB(1), 418A, 418(1), 424, 477, 511, 532(2) - Trustee Act 1925 (NSW) s 63 Cases Cited: - Macedonian Orthodox Community Church St Petka Inc v His Eminence Petar The Diocesan Bishop of Macedonian Orthodox Diocese of Australia and New Zealand [2008] HCA 42; (2008) 237 CLR 66 Category: Procedural and other rulings Parties: 2015/252832 The Trust Company (Nominees) Limited (Plaintiff)

2015/255957 Anthony Gregory McGrath, Joseph David Hayes, Matthew Wayne Caddy and Robert Michael Kirman of McGrathNicol as the joint and several receivers and managers of Banksia Securities Limited (receivers and managers appointed) (In liquidation) (Plaintiffs) The Trust Company (Nominees) Limited (First Defendant) John Ross Lindholm and Peter Damien McCluskey of Ferrier Hodgson as the joint and several liquidators of Banksia Securities Limited (receivers and managers appointed) (in liquidation) (Second Defendant) Representation: Counsel: 2015/252832 B. Coles QC/P G Liondas (Plaintiff) C Scerri QC (Liquidators) A A D'Arcy (Intervener – Mr L J Bolitho)