In the matter of ACN 000 237 678 Pty Ltd (formerly Custom Coaches (Sales) Pty Ltd) (in liquidation) [2017] NSWSC 842

Supreme Court New South Wales

Medium Neutral Citation: In the matter of ACN 000 237 678 Pty Ltd (formerly Custom Coaches (Sales) Pty Ltd) (in liquidation) [2017] NSWSC 842 Hearing dates: 22 June 2017 Date of orders: 22 June 2017 Decision date: 22 June 2017 Jurisdiction: Equity - Corporations List Before: Robb J Decision: See paragraph 27. Catchwords: CORPORATIONS – Winding up – Conduct of liquidation – Application for directions – Where remaining asset of Company is a term deposit held by the National Australia Bank – Where term deposit is security for performance bonds issued by the Company – Where only priority creditor is the Department of Employment – Whether Court should approve assignment of the term deposit to the Department. Legislation Cited: Corporations Act 2001 (Cth) ss 511, 601AG Corporations Regulations 2001 (Cth) reg 10.25.02 Insolvency Law Reform Act 2016 (Cth) sch 2 Corporations and Other Legislation Amendment Act (Insolvency Law Reform) Regulation 2016 (Cth) Category: Principal judgment Parties: ACN 000 237 678 Pty Ltd (formerly Custom Coaches (Sales) Pty Ltd) (in liquidation) (first plaintiff) Vaughan Neil Strawbridge in his capacity as joint and several liquidator of the first plaintiff (second plaintiff) Timothy Bryce Norman in his capacity as joint and several liquidator of the first plaintiff (third plaintiff) Representation: Counsel: D Sulan and L Rich (plaintiffs)

Solicitors: Clayton Utz (plaintiffs) File Number(s): 2017/112912 Publication restriction: None