In the matter of JML Property Services Pty Ltd (in liquidation) [2018] NSWSC 1069

Supreme Court New South Wales

Medium Neutral Citation: In the matter of JML Property Services Pty Ltd (in liquidation) [2018] NSWSC 1069 Hearing dates: 5 July 2018 Decision date: 11 July 2018 Jurisdiction: Equity - Corporations List Before: Black J Decision: Leave granted to the Applicant to make a distribution from the Trust's assets in the manner sought. Catchwords: CORPORATIONS – external administration – winding up – where expenses were incurred as liquidator of the company which functioned only as trustee of the trust and has no assets of its own – where remuneration of liquidator has been approved by resolutions of the creditors – where remuneration of liquidator is not excessive and is proportionate to the recoveries made – whether to grant leave to the liquidator to distribute trust assets towards payment of expenses and remuneration. Legislation Cited: - Corporations Act 2001 (Cth) ss 439A, 446A, 449E, 473, 491, 499, 556 Cases Cited: - Commonwealth v Byrnes & Hewitt (in their capacity as joint and several receivers and managers of Amerind Pty Ltd (recs and mgrs apptd) (in liq) [2018] VSCA 41; (2018) 124 ACSR 246 - Jones (Liquidator) v Matrix Partners Pty Ltd, Re Killarnee Civil & Concrete Contractors Pty Ltd (in liq) [2018] FCAFC 40 - Re French Caledonia Travel Service Pty Ltd (in liq) (2003) 59 NSWLR 361 - Re Houben Marine Pty Ltd (in liq) [2018] NSWSC 745 - Re Independent Contractor Services (Aust) Pty Ltd ACN 119 186 971 (in liq) (No 2) [2016] NSWSC 106 - Re Mecfab Holdings Pty Ltd [2015] NSWSC 46 - Re MF Global Australia Ltd (in liq) (No 2) [2012] NSWSC 1426 - Re MINMXT Holdings Pty Ltd (in liq) [2017] NSWSC 156 - Re North Food Catering Pty Ltd [2014] NSWSC 77 - Re Stansfield DIY Wealth Pty Ltd (in liq) [2014] NSWSC 1484 - Re Suco Gold Pty Ltd (in liq) (1993) 33 SASR 99 - Sanderson, as liquidator of Sakr Nominees Pty Ltd (in liq) v Sakr [2017] NSWCA 38 Category: Procedural and other rulings Parties: Frank Lo Pilato in his capacity as Liquidator of JML Property Services Pty Ltd (In Liquidation) (Applicant) Jeremy Michael Long (First Respondent) Meredith Co. (NSW) Pty Limited (Second Respondent) Representation: Counsel: D. Neggo (Plaintiff)