In the matter of Anglican Development Fund Diocese of Bathurst Board (Receivers and Managers Appointed) [2017] NSWSC 967

Supreme Court New South Wales

Medium Neutral Citation: In the matter of Anglican Development Fund Diocese of Bathurst Board (Receivers and Managers Appointed) [2017] NSWSC 967 Hearing dates: 10 July 2017 Decision date: 21 July 2017 Jurisdiction: Equity - Corporations List Before: Black J Decision: The Court makes orders that the receivers and managers be permitted to make final distributions to creditors; that their accounts be passed; that their remuneration and expenses be fixed in the amounts proposed; and that they be discharged and released as joint and several receivers and managers. Catchwords: CORPORATIONS — Receivers and managers – Application to permit receivers and managers to make final distribution to creditors – Application to pass receivership accounts and for discharge and release – where costs of continued receivership likely to exceed realisations and need for further action by receivers can be avoided – where creditors consent to orders sought

CORPORATIONS — Receivers and managers — Appointment by court — Application for approval of costs, disbursements and expenses and remuneration – whether remuneration and expenses claimed are fair and reasonable Legislation Cited: - Corporations Act 2001 (Cth), ss 425(8), 473(10) Cases Cited: - Re Banksia Securities Ltd (in liq) (recs and mgrs apptd) [2017] NSWSC 540 - Re Clout (in his capacity as Liquidator of Mainz Developments Pty Ltd) (in liq) [2016] NSWSC 1146; (2016) 115 ACSR 459 - Re The Dominion Insurance Company of Australia Ltd (subject to Scheme of Arrangement) [2013] NSWSC 898; (2013) 276 FLR 338 - Sanderson (as Liquidator of Sakr Nominees Pty Ltd (in liq)) v Sakr [2017] NSWCA 38; (2017) 118 ACSR 333 - Templeton v Australian Securities and Investments Commission [2015] FCAFC 137; (2015) 108 ACSR 545 Category: Procedural and other rulings Parties: Barry Frederic Kogan and Joseph David Hayes in their capacity as receivers and managers of the Anglican Development Fund Diocese of Bathurst Board (receivers and managers appointed) (Applicants) Anglican Development Fund Diocese of Bathurst Board (receivers and managers appointed) (Respondent) Representation: Counsel: E L Beechey (Applicants)