In the matter of Banksia Securities Limited (in liquidation) (receivers and managers appointed) [2018] NSWSC 229

Supreme Court New South Wales

Medium Neutral Citation: In the matter of Banksia Securities Limited (in liquidation) (receivers and managers appointed) [2018] NSWSC 229 Hearing dates: 19 February 2018 Decision date: 28 February 2018 Jurisdiction: Equity - Corporations List Before: Black J Decision: The remuneration of the Special Purpose Receivers for the period 1 April 2017 to 30 September 2017 is approved and fixed in the sum of $158,547. Catchwords: CORPORATIONS – external administration – application to approve the remuneration of special purpose receivers for work already performed – where ASIC does not appear to make submissions after being given notice of the application –whether the amount of remuneration claimed is reasonable and whether it is to be calculated on a time charged basis. Legislation Cited: - Corporations Act 2001 (Cth) ss 283HB, 425 - Uniform Civil Procedure Rules 2005 (NSW) r 26.4 Cases Cited: - Ide v Ide [2004] NSWSC 751; (2004) 184 FLR 44 - Mohamed v Hurstville Tower Medical Clinic Pty Ltd (in liq) [2006] NSWSC 4 - Re Banksia Securities Ltd (in liq) (recs and mgrs apptd) [2015] NSWSC 1378 - Re Banksia Securities ltd (in liq) (recs and mgrs apptd) [2016] NSWSC 357 - Re Banksia Securities Ltd (in liq) (recs and mgrs apptd) [2017] NSWSC 540 - Re Idylic Solutions Pty Ltd as trustee for Super Save Superannuation Fund [2016] NSWSC 1292 - Sanderson, as liquidator of Sakr Nominees Pty Ltd (in liq) v Sakr [2017] NSWCA 38; (2017) 93 NSWLR 459; (2017) 343 ALR 524; (2017) 118 ACSR 333 - Wenkart v Pantzer [2005] FCA 1572 Category: Procedural and other rulings Parties: The Trust Company (Nominees) Limited (Plaintiff) John Ross Lindholm and Peter Damien McCluskey (Special Purpose Receivers) Representation: Counsel: J Redwood/P Bindon (Applicants - Special Purpose Receivers)