In the matter of Dungowan Manly Pty Limited (in liquidation) [2018] NSWSC 1083

Supreme Court New South Wales

Medium Neutral Citation: In the matter of Dungowan Manly Pty Limited (in liquidation) [2018] NSWSC 1083 Hearing dates: 6 July 2018 Decision date: 06 July 2018 Jurisdiction: Equity - Corporations List Before: Black J Decision: The First Applicants are justified in not taking the steps proposed in paragraphs 1–6 of the Amended Interlocutory Process filed on 6 July 2018 and the corresponding paragraphs in the Interlocutory Process filed on 2 June 2017. Catchwords: CORPORATIONS – winding up – application for directions – where liquidators are not funded to bring enforcement proceedings in respect of a further levy – whether the issue of a further levy is of advantage to the liquidation – whether direction should be made that liquidators are justified in issuing a further levy to shareholders – whether direction should be made that liquidators are justified in entering into a funding agreement – whether leave be granted to the liquidators to appoint themselves as voluntary administrators of the company Legislation Cited: - Corporations Act 2001(Cth) Pt 5.3A, ss 436B, 447A, 447D, 511, 1615, 1617, sch 2 cl 90-15 - Insolvency Law Reform Act 2016 (Cth) Cases Cited: - Re 7 Steel Distribution Pty Ltd (in liq) (recs and mgrs apptd) [2013] NSWSC 669 - Re Dungowan Manly Pty Ltd (in liq) [2015] NSWSC 915 - Re Dungowan Manly Pty Ltd (in liq) [2017] NSWSC 1771 - Re Nexus Energy Ltd [2014] NSWSC 1041 - Re Purchas (as Liquidator of Astarra Asset Management Pty Ltd (in liq)) [2011] NSWSC 91 Texts Cited: Austin & Black's Annotations to the Corporations Act Category: Procedural and other rulings Parties: Simon John Cathro and Christopher Damien Darin as joint and several liquidators of Dungowan Manly Pty Limited (in liquidation) (First Applicants) Dungowan Manly Pty Limited (in liquidation) (Second Applicant) Representation: Counsel: F Assaf (Applicants)