In the matter of The Arms Global Group Limited (in Liquidation) [2018] NSWSC 512

Supreme Court New South Wales

Medium Neutral Citation: In the matter of The Arms Global Group Limited (in Liquidation) [2018] NSWSC 512 Hearing dates: 12 and 13 February 2018 Date of orders: 13 February 2018 Decision date: 13 February 2018 Jurisdiction: Equity - Corporations List Before: Brereton J Decision: See paragraph 25 Catchwords: CORPORATIONS — Winding up — Liquidators — Remuneration – remuneration approved

EQUITY — Trusts and trustees — Judicial advice - Payment of trust funds into Court – where the liquidator has been unable to identify the beneficial owner of the funds – held, the liquidator should inform all interested parties and seek the Court's advice that he would be justified in disregarding any claim which has not been made within time, and in distributing the funds according to such determination as he might reasonably make having regard to the claims made and the available evidence Legislation Cited: (CTH) Corporations Act 2001, s 436A (NSW) Trustee Act 1925 s 95 Cases Cited: In re MF Global Australia Ltd (in liq) [2012] NSWSC 994; (2012) 267 FLR 27 In the matter of AAA Financial Intelligence Ltd (in liquidation) ACN 093 616 445 (No 2) [2014] NSWSC 1270; (2014) 32 ACLC 14-052 In the matter of Gramarkerr Pty Limited (No 2) [2014] NSWSC 1405 In the matter of Sakr Nominees Pty Ltd [2016] NSWSC 709 Re BBY Ltd (No 2) [2018] NSWSC 346 Re French Caledonia Travel Services Pty Ltd (2002) 59 NSWLR 361 Re ICS Real Estate Pty Ltd (in liq) and Re Independent Contractor Services (Aust) Pty Ltd (in liq) [2014] NSWSC 479 Re Independent Contractor Services (Aust) Pty Limited ACN 119 186 971(in liquidation) (No 2) [2016] NSWSC 106; (2016) 305 FLR 222 Re Lehman Brothers International (Europe) (in admin) [2012] UKSC 6; [2012] 3 All ER 1 Category: Principal judgment Parties: The Arms Global Group Pty Limited (in Liquidation) (ACN 089 619 661) (first plaintiff)