In the matter of FAI Leasing Finance Pty Limited (in liquidation); In the matter of FAI Home Security Holdings Pty Limited (in liquidation) [2015] NSWSC 2150

Supreme Court New South Wales

Medium Neutral Citation: In the matter of FAI Leasing Finance Pty Limited (in liquidation); In the matter of FAI Home Security Holdings Pty Limited (in liquidation) [2015] NSWSC 2150 Hearing dates: 22 October 2015 Date of orders: 22 October 2015 Decision date: 22 October 2015 Jurisdiction: Equity - Corporations List Before: Brereton J Decision: Orders made approving liquidators' remuneration and for the destruction of the companies' books and records. Catchwords: CORPORATIONS – winding up – liquidators – approval of liquidators' remuneration – whether remuneration sought is reasonable – court-ordered winding up – requirement that remuneration is approved by creditors at creditors' meeting – where no external creditors – (CTH) Corporations Act 2001, s 1322 – declaration that failure to hold meeting does not invalidate remuneration – destruction of books and records – where ASIC does not oppose destruction. Legislation Cited: (CTH) Corporations Act 2001, s 473, s 533, s 1322 (NSW) Supreme Court (Corporations) Rules 1999, r 7.5(6) Category: Principal judgment Parties: In proceedings 2001/58783: Anthony Gregory McGrath and Christopher John Honey in their capacity as liquidators of FAI Leasing Finance Pty Limited (in liquidation) ACN 002 027 214 (applicants)

In proceedings 2003/82574: Anthony Gregory McGrath and Christopher John Honey in their capacity as liquidators of FAI Home Security Holdings Pty Limited (in liquidation) ACN 003 125 264 (applicants) Representation: Counsel: J Scarcella (solicitor) (applicants)