Stojic v Stojic [2018] NSWSC 1268

Supreme Court New South Wales

Medium Neutral Citation: Stojic v Stojic [2018] NSWSC 1268 Hearing dates: 9 August 2018 Date of orders: 09 August 2018 Decision date: 15 August 2018 Before: Ward CJ in Eq Decision: Orders made on 9 August 2018

Granting the plaintiffs additional powers as special administrators of the estate

1. Order that Ivanna Ann-Marie Ferenc Stojic and Ivan Matthew Stojic, as special administrators of the estate of the late Ivan Stojic, be granted the additional powers set out in the Schedule hereto.

Schedule of Additional Powers

(a) To execute and enter into a Deed of Company Arrangement on behalf of the estate of the late Ivan Stojic (the Estate) substantially in accordance with the proposed Deed of Company Arrangement (the DOCA) approved by the creditors of Statewide Office Furniture Pty Ltd (Statewide). (b) To accept a transfer of shares in Statewide, appoint a director or directors to that company, appoint a secretary or secretaries to that company. (c) To each or either of them severally hold office as director and/or secretary of Statewide while the Company is subject to the DOCA and/or while they hold shares in the Company. (d) To permit the business of Statewide to continue and to manage the operations of Statewide and its business, in accordance with the terms of the DOCA, and by law, and to make decisions in respect of the day to day operations of Statewide. (e) To do all things necessary to give effect to the terms of the DOCA, and to assist the Deed Administrator perform his obligations under the DOCA. (f) To bring an action or to authorise the Company, and/or its Administrator, or the Deed Administrator of the DOCA (as the case may be) to engage the estate's solicitors to bring application or action in the name of the Company and/or in the name of the Deed Administrator against the defendant therein: (i) For leave of the Court pursuant to s 444GA of the Corporations Act 2001 (Cth) to be granted to the Deed Administrator to transfer the shareholding of the defendant herein in the Company to the plaintiffs as special administrators of the estate. (ii) To recover any amount owing to the Company by the defendant upon his loan account with the Company, including but not limited to any amount taken by him from the Company in contravention of the orders of Robb J and Kunc J made in these proceedings. (g) To participate on behalf of the Estate in the Family Court of Australia proceedings SYC 5380/2014 and in those proceedings to seek any direction or order necessary as to the release of sufficient funds from accounts BSB 032 151 Account 393151 BSB 032 151 and/or Account 393143 (which are presently subject to the orders of the Family Court of Australia), to meet the orders that may hereafter be made in favour of the estate and/or Statewide. (h) To apply for, sign and accept a loan in the name of the estate, in an amount sufficient to pay the Deed Contributions under the terms of the DOCA, from time to time, as may be required. (i) To encumber or charge the estate's real property located at 6-8 Garema Circuit, Kingsgrove as security for any loan obtained in order to meet the estate's obligations under the DOCA.