HN QCV Bottle Tree Village Pty Ltd v QCV Bottle Tree Village Pty Ltd [2018] NSWSC 1807

Supreme Court New South Wales

Medium Neutral Citation: HN QCV Bottle Tree Village Pty Ltd v QCV Bottle Tree Village Pty Ltd [2018] NSWSC 1807 Hearing dates: 6 November 2018; written submissions 12 November 2018 Decision date: 26 November 2018 Jurisdiction: Equity Before: Robb J Decision: No orders made. The applicant receiver is invited to suggest short minutes of order having regard to these reasons for judgment, and to submit further evidence and submissions concerning the additional orders that should be made. The receiver's application for approval of his remuneration and expenses is deferred pending further consideration. Catchwords: PARTNERSHIPS AND JOINT VENTURES – Dissolution and winding up of partnership – Court appointed receiver and manager – whether the applicant receiver had the power to enter into and was justified in entering into and performing his obligations and exercising his rights under a deed of settlement entered into by the receiver under which he compromised debts owed by and to the partnership

RECEIVERS AND MANAGERS – Power of the Court to provide advice and directions to a receiver appointed by the Court – the limitation on the Court's jurisdiction to vest powers in a receiver to matters which the partners would have authority to do

RECEIVERS AND MANAGERS – Distribution – Whether the applicant receiver is justified in making a pro rata distribution of the proceeds of realisation of the assets of the partnership to the creditors of the partnership on the basis of the receiver's own adjudication of the amounts properly owed by the partnership to the creditors

RECEIVERS AND MANAGERS – Distribution – Whether the Court can empower and should authorise the applicant receiver to call for the submission of proofs of debt by the creditors of the partnership, to adjudicate upon any claims lodged, and to pay the creditors pro rata in accordance with the adjudications made by the receiver