In the matter of Sakr Nominees Pty Ltd [2016] NSWSC 709

Supreme Court New South Wales

Medium Neutral Citation: In the matter of Sakr Nominees Pty Ltd [2016] NSWSC 709 Hearing dates: Monday, 22 February 2016 Date of orders: 22 February 2016 Decision date: 22 February 2016 Jurisdiction: Equity - Corporations List Before: Brereton J Decision: (1) Pursuant to Corporations Act, s 488(2), the plaintiff has special leave to distribute the surplus of assets in the liquidation of Sakr Nominees Pty Limited, in accordance with the document initialled by me, dated this day, and placed with the papers. (2) Pursuant to Corporations Act, s 473(3)(b)(ii), the liquidator's remuneration for the period 3 November 2014 to finalisation of the liquidation inclusive, is determined to be $20,000, including GST. (3) Pursuant to Corporations Act, s 479(3), the liquidator would be justified in paying or retaining the sum of $66,939.87, in respect of legal costs of Colin Biggers & Paisley. (4) The balance of the proceedings is adjourned to 11 April 2016 at 9.45am in the Corporations' Judge Motions List for consideration of the application for a release and deregistration. Catchwords: CORPORATIONS – winding up – application for special leave to distribute surplus

CORPORATIONS – winding up – liquidators – remuneration – where creditors paid so not possible for convening creditors' meeting to approve further remuneration – (CTH) Corporations Act 2001, s 473(1) factors – small family company – where notice of application was given to contributories – where additional work not anticipated at time of creditors' approval – ad valorem remuneration Legislation Cited: (CTH) Corporations Act 2001, s 473(3)(b)(ii), s 479(3), s. 488(2) (NSW) Supreme Court (Corporations) Rules 1999, r 7.9 Cases Cited: In the matter of AAA Financial Intelligence Ltd (in liquidation) ACN 093 616 445 (No 2) [2014] NSWSC 1270 In the matter of Gramarkerr Pty Limited (No 2) [2014] NSWSC 1405 In the matter of Hellion Protection Pty Ltd (In Liquidation) [2014] NSWSC 1299 Mirror Group Newspapers plc v Maxwell (No 2) [1998] 1 BCLC 638 Re Anderson Group Pty Ltd [2002] NSWSC 764; (2002) 20 ACLC 1607 Re Cardiff Coal Company [2014] NSWSC 1590 Re Carton Ltd (1923) 39 TLR 194 Re Stockford Ltd [2004] FCA 1682; (2004) 52 ACSR 279 Re Wm Rose & Co Ltd (1897) 3 ALR (CN) 65 Universal Distributing Co Ltd (in liq), Re [1933] HCA 2; (1933) 48 CLR 171 Venetian Nominees Pty Ltd v Conlan (1998) 20 WAR 96 Category: Principal judgment Parties: Cliff Sanderson as liquidator of Sakr Nominees Pty Limited (CAN 090 735 587)(plaintiff) Representation: Counsel: H Collins (plaintiff)