In the matter of MINMXT Holdings Pty Ltd (In liquidation) [2017] NSWSC 156

Supreme Court New South Wales

Medium Neutral Citation: In the matter of MINMXT Holdings Pty Ltd (In liquidation) [2017] NSWSC 156 Hearing dates: 22 February 2017 Decision date: 28 February 2017 Jurisdiction: Equity - Corporations List Before: Barrett AJA Decision: Short minutes to be brought in Catchwords: TRUSTS AND TRUSTEES – equitable interests in trust property – company acting solely as trustee – orders for winding up and appointment of liquidator made – liquidator later appointed by the court to be receiver of the trust property – application by liquidator/receiver for approval of remuneration and expenses – quantification thereof – claim by liquidator/receiver that total remuneration and expenses be paid out of trust estate in priority to all other claims and interests – whether such priority warranted – whether confined to remuneration and expenses of recovery, care and preservation of trust property – whether present application is a suitable context for adjudicating all claims to priority over beneficiaries. Legislation Cited: Corporations Act 2001 (Cth) Trustee Act 1925 (NSW) Uniform Civil Procedure Rules 2005 (NSW) Cases Cited: Agusta Pty Ltd v Provident Capital Ltd [2012] NSWCA 26; (2012) 16 BPR 30,397 Bastion v Gideon Investment Pty Ltd [2000] NSWSC 939; (2000) 35 ACSR 466 Coad v Wellness Pursuit Pty Ltd (2009) 40 WAR 53; [2009] WASCA 68 Commissioner of Federal Police v Cornwell (1990) 98 ALR 677 Dean-Willcocks v Nothintoohard Pty Ltd [2006] NSWCA 311; (2006) 25 ACLC 109 Hayman v Equity Trustees Ltd (2003) 8 VR 557; [2003] VSC 353 Ide v Ide [2004] NSWSC 751; (2004) 184 FLR 44 In the matter of Independent Contractor Services (Aust) Pty Ltd (No 2) [2016] NSWSC 106; (2016) 305 FLR 222 In the matter of MF Global Ltd (No 2) [2012] NSWSC 1426 In the matter of Mainz Developments Pty Ltd [2016] NSWSC 1146; (2016) 115 ACSR 459 In the matter of North Food Catering Pty Ltd [2014] NSWSC 77 Jennings v Mather [1901] QB 108 Jennings v Mather [1902] 1 KB 1 Moodemere Pty Ltd v Waters [1988] VR 215 Primary Securities Ltd v Willmott Forests Ltd [2016] VSCA 309 Re Blundell (1888) 40 Ch D 370 Re French Caledonia Travel Service Pty Ltd (2003) 59 NSWLR 361; [2003] NSWSC 1008 Re The Exhall Coal Co Ltd (1866) 35 Beav 449; 55 ER 970 Re Universal Distributing Co Ltd (In Liq) (1933) 48 CLR 171; [1933] HCA 2 Savage v Union Bank of Australia Ltd (1906) 3 CLR 1170; [1906] HCA 37 Stewart v Atco Controls Pty Ltd (in Liquidation) (2014) 252 CLR 307; [2014] HCA 15 Templeton v Australian Securities and Investments Commission [2015] FCAFC 137; (2015) 108 ACSR 545 Worrall v Harford [1802] EngR 342; (1802) 8 Ves Jun 4; (1802) 32 ER 250 Category: Principal judgment Parties: Plaintiff/Applicant 1 – Adam Bernard Preiner in his Capacity as Official Liquidator of MINMXT Holdings Pty Ltd (In Liquidation) (ACN 135 131 627) Plaintiff/Applicant 2 – MINMXT Holdings Pty Ltd (In Liquidation) (ACN 135 131 627) Respondent 1 – Nichole Paula Schlebusch Respondent 2 – Morney Schlebusch Respondent 3 – Prospa Advance Pty Ltd ACN 154 775 667 Respondent 4 – Hoot Townsville Pty Ltd (In Liquidation) ACN 162 596 152 Respondent 5 – Hoot Townsville Pty Ltd (In Liquidation) ACN 162 597 864 Respondent 6 – Andrew Kent Osborne Respondent 7 – Prime Capital Securities Pty Ltd ACN 168 662 173 Representation: Counsel: Plaintiffs/Applicants – Mr A Narayan (sol) Respondent 3 – Mr MW Young SC Respondent 4 & 5 – Mr D Edney (sol) Respondent 6 – Mr J White