In the matter of Metal Storm Ltd (subject to Deed of Company Arrangement) [2015] NSWSC 1699

Supreme Court New South Wales

Medium Neutral Citation: In the matter of Metal Storm Ltd (subject to Deed of Company Arrangement) [2015] NSWSC 1699 Hearing dates: 28 October 2015 Decision date: 28 October 2015 Jurisdiction: Equity - Corporations List Before: Black J Decision: Orders in accordance with the short minutes of order. Held that remuneration should be approved in the amount specified in the short minutes of order. Catchwords: CORPORATIONS – receivers, controllers and managers – remuneration and expenses – where sale of assets involved particular complexity – whether to approve receivers' remuneration Legislation Cited: - Civil Procedure Act 2005 (NSW) s 56 Cases Cited: - Coeclerici Asia (Pte) Ltd v Gujarat NRE Coke Ltd (No 2) [2015] FCA 809 - Ide v Ide [2004] NSWSC 751; (2004) 50 ACSR 324 - Re Application of Crouch [2005] NSWSC 1122 Category: Procedural and other rulings Parties: Adam Shepard (in his capacity as deed administrator of Metal Storm Ltd) (First Plaintiff) Metal Storm Ltd (subject to a deed of company arrangement) (Second Plaintiff) ANZ Trustees Limited (First Defendant) The Australian Special Opportunity Fund LP (Second Defendant) Christopher Darin and Aaron Lucan (in their capacity as receivers of Metal Storm Limited (in liquidation) (receivers appointed) (Applicants) Representation: Counsel: A McGrath SC/D Krochmalik (First Defendant) D Klineberg (Second Defendant) M A Karam (Applicants)