In the matter of MHM Australasia Pty Ltd (in Liquidation) [2018] NSWSC 739

Supreme Court New South Wales

Medium Neutral Citation: In the matter of MHM Australasia Pty Ltd (in Liquidation) [2018] NSWSC 739 Hearing dates: Tuesday, 30 January 2018 Date of orders: 30 January 2018 Decision date: 30 January 2018 Jurisdiction: Equity - Corporations List Before: Brereton J Decision: Held, on application by creditor pursuant to Corporations Act ss 486 and 511, that it is just to permit inspection of books in order to investigate reasonable suspicions and ascertain whether there is a viable claim against a director and an insurance policy which may respond to it. Catchwords: CORPORATIONS – Winding up – voluntary winding up – creditor's application for inspection of company books and documents – documents held by liquidator – where plaintiff has reasonable basis for suspecting that it may have substantial claim against director – where documents include D & O insurance policy – where creditor seeks to inspect books to investigate suspicion and evaluate claim – where insurance policy may respond to claim – held, just to permit inspection of company books. Legislation Cited: (CTH) Corporations Act 2001 ss 486, 511, 1550, 1617 (CTH) Corporations Regulations 2001 Part 10.25 (NSW) Companies (New South Wales) Code, s 387 (NSW) Law Reforms (Miscellaneous Provisions) Act 1946 s 6 Cases Cited: BPTC Limited, Re (1992) 7 ACSR 291 IACS Pty Limited v Australian Flower Exports Pty Ltd (1993) 10 ACSR 769 Lowden v Elliott Harvey Securities Ltd (No 2) [2016] FCA 740 MMC Pty Ltd, Re (1992) 6 ACSR 741 North Brazilian Sugar Factories. Re (1888)37 Ch D 83 Category: Procedural and other rulings Parties: State of New South Wales (P) Andrew James Barden (D1) Will Griffith (D2) Representation: Counsel: J Shepard (P) L M McCarthy (solicitor) (D)