In the matter of Bankstown City Radio Co-Operative Limited (in liquidation) [2016] NSWSC 1884

Supreme Court New South Wales

Medium Neutral Citation: In the matter of Bankstown City Radio Co-Operative Limited (in liquidation) [2016] NSWSC 1884 Hearing dates: 28 November 2016 (written submissions 2 December 2016) Decision date: 21 December 2016 Jurisdiction: Equity - Corporations List Before: Black J Decision: The Court grants leave to James Alexander Shaw to distribute the surplus in respect of the liquidation of Bankstown City Radio Co-operative Limited to Bankstown Auburn Community Radio Incorporated. The Court orders that the Plaintiff's costs of this application be paid out of the assets of Bankstown City Radio Co-operative Limited. Catchwords: CORPORATIONS — Winding up — Winding up of co-operative under Co-operatives National Law (NSW) – where plaintiff sought special leave to distribute surplus in the liquidation of the co-operative to another entity – whether special leave ought to be granted. Legislation Cited: - Associations Incorporation Act 2009 (NSW), s 65 - Co-operatives (Adoption of National Law) Act 2012 (NSW), Sch 1, cll 2, 4 - Co-operatives Act 1992 (NSW), ss 5, 109A, 328, Pt 12 - Co-operatives National Law (NSW), s 24, 56, 64, 65, 442, 443, 444, 448, 455, 472, Sch 1, cll 1, 3 - Co-operatives National Regulations (NSW), Sch 7, r 70 - Corporations (Ancillary Provisions) Act 2001 (NSW), Pt 3 - Corporations Act 2001 (Cth), ss 488, 490, Pt 5.4B - Income Tax Assessment Act 1936 (Cth), s 23 Cases Cited: - CGU Workers Compensation (NSW) Ltd v Ascom Service Automation (Australia) Pty Ltd [2005] NSWSC 747 - Re D S Millard & Son Pty Ltd (1997) 24 ACSR 71 - Re HIH Services Pty Ltd (in liq) [2012] NSWSC 1188 Category: Principal judgment Parties: James Alexander Shaw in his capacity as Liquidator of Bankstown City Radio Co-Operative Limited (Applicant) Bankstown/Auburn Community Radio Inc (amicus curiae) Representation: Counsel: B Douglas-Baker (Applicant) B Johnston (Bankstown/Auburn Community Radio Inc)