In the matter of Banksia Securities Limited (in liquidation) (receivers and managers appointed) (No 2) [2015] NSWSC 1449

Supreme Court New South Wales

Medium Neutral Citation: In the matter of Banksia Securities Limited (in liquidation) (receivers and managers appointed) (No 2) [2015] NSWSC 1449 Hearing dates: 14 September 2015 (further submissions 24 September 2015) Decision date: 30 September 2015 Jurisdiction: Equity - Corporations List Before: Black J Decision: Orders made in accordance with consent orders in the form submitted by the parties. Catchwords: CORPORATIONS – receivers, controllers and managers – appointment of liquidators as receivers – whether liquidators capable of being appointed receivers – Corporations Act 2001 (Cth) s 418 – held, not necessary to express a view a to scope of s 418 in the circumstances. Legislation Cited: - Corporations Act 2001 (Cth) ss 9, 418, 418(1), 532(2) Uniform Companies Act 1961 ss 187, 190 Cases Cited: - Australian Executor Trustees Ltd v Provident Capital Ltd (recs and mgrs apptd) (in liq) [2013] FCA 1461 - Low v Performance Finance Ltd & Ors [2004] WASC 80 - Re Banksia Securities Ltd (in Liq) (Recs and Mgrs Apptd) [2015] NSWSC 1378 - Re Joshua Stubbs Ltd; Barney v Joshua Stubbs Ltd [1891] 1 Ch 475 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)