In the matter of Hercules Car Parking Systems (Victoria) Pty Ltd [2018] NSWSC 409

Supreme Court New South Wales

Medium Neutral Citation: In the matter of Hercules Car Parking Systems (Victoria) Pty Ltd [2018] NSWSC 409 Hearing dates: Monday, 5 March 2018 Date of orders: 05 March 2018 Decision date: 05 March 2018 Jurisdiction: Equity - Corporations List Before: Brereton J Decision: Liquidator appointed as receiver and manager of the trust assets of the company to enforce the trustee company's right of indemnity Catchwords: CORPORATIONS - winding up - liquidators - where company's sole function was to act as trustee of a unit trust – where trust deed provided for automatic removal of company as trustee upon liquidation – where no replacement trustee appointed - liquidator appointed as receiver of trust assets to enforce company's right of indemnity Legislation Cited: (CTH) Corporations Act 2001 ss 477(2) and 506(1) Cases Cited: In the matter of Blujack Pty Limited (in liquidation) [2016] NSWSC 685; In the matter of Gramarker Pty Ltd; Clifford Sanderson (as liquidator of Gramarker Pty Limited) v Simon Kerr [2014] NSWSC 243 In the matter of Stansfield DIY Wealth Pty Limited (in liquidation) [2014] NSWSC 1484, 103 ACSR 401 Re Indopal Pty Ltd (1987) 12 ACLR 54 Category: Principal judgment Parties: Christopher John Palmer (First Plaintiff) Hercules Car Parking Systems (Victoria) Pty Ltd (in liquidation) ACN 601 944 674 (Second Plaintiff) 129 Albert Street Pty Ltd CAN 109 979 946 (First Defendant) Hercules Car Parking Systems 2004 Pty Ltd ACN 077 434 452 (Second Defendant) Map Architecture & Design Pty Ltd ACN 137 783 923 (Third Defendant) Representation: Counsel: J Knackstredt (Plaintiff) Solicitors:Macpherson Kelley (Plaintiff) File Number(s): 2018/ 69393