In the matter of Allseal Floor Preparations Pty Ltd (in liquidation) [2015] NSWSC 1990

Supreme Court New South Wales

Medium Neutral Citation: In the matter of Allseal Floor Preparations Pty Ltd (in liquidation) [2015] NSWSC 1990 Hearing dates: 16 December 2015 Decision date: 16 December 2015 Jurisdiction: Equity - Corporations List Before: Black J Decision: Orders in accordance with short minutes of order initialled and placed in the file. Catchwords: CORPORATIONS – winding up – application for special leave under Corporations Act 2001 (Cth) s 488(2) to distribute surplus – where distribution to occur partly by in-specie distribution and partly in cash – whether to grant special leave to liquidator to make distribution. Legislation Cited: - Corporations Act 2001 (Cth) ss 124(1)(d), 488, 488(2) Cases Cited: - Brealey v Shields [2009] NSWSC 1148 CGU Workers' Compensation (NSW) Ltd v Ascom Service Automation (Australia) Pty Ltd [2005] NSWSC 747 Longley v ACN 090 609 868 Pty Ltd (In Liq) [2010] FCA 1468; (2010) 81 ACSR 517 Official Trustee in Bankruptcy v Buffier [2006] NSWSC 870 Re D S Millard and Son Pty Ltd (1997) 24 ACSR 71 Re FAI Car Owners Mutual Insurance Company Pty Ltd [2009] NSWSC 1350 Re HIH Services Pty Ltd (In Liq) [2012] NSWSC 1188 Category: Procedural and other rulings Parties: Kealy Group Pty Ltd (Plaintiff) Allseal Floor Preparations Pty Ltd (in liq) (First Defendant) Kealy Investments Pty Ltd (Second Defendant) Representation: Counsel: G Cussen (Solicitor – Applicant Liquidator)