In the matter of MINMXT Holdings Pty Ltd (In liquidation) (No 2) [2017] NSWSC 231

Supreme Court New South Wales

Medium Neutral Citation: In the matter of MINMXT Holdings Pty Ltd (In liquidation) (No 2) [2017] NSWSC 231 Hearing dates: 10 March 2017 Decision date: 14 March 2017 Jurisdiction: Equity - Corporations List Before: Barrett AJA Decision: See paragraph 11 Catchwords: TRUSTS AND TRUSTEES – remuneration and expenses of person acting as liquidator of company operating solely as trustee and receiver of trust property – where part thereof held to be entitled to Universal Distributing priority and balance held to rank after claims of secured creditors – whether liquidator/receivers' liability for costs of unsuccessful resistance to secured creditors' claims for priority should be limited to trust assets Cases Cited: In the matter of MINMXT Holdings Pty Ltd [2017] NSWSC 156 Re Universal Distributing Co Ltd (In Liq) (1933) 48 CLR 171; [1933] HCA 2 Re Wilson Lovatt & Sons Ltd [1977] 1 All ER 274 Silvia v Brodyn Pty Ltd [2007] NSWCA 55; (2007) 25 ACLC 385 Walker v Walker [2006] 1 WLR 2194; [2005] EWCA Civ 247 Wilson v Official Trustee in Bankruptcy [2000] FCA 1251 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