In The Matter Of The Arms Global Group Pty Limited (In Liquidation) (No 2) [2018] NSWSC 1936

Supreme Court New South Wales

Medium Neutral Citation: In The Matter Of The Arms Global Group Pty Limited (In Liquidation) (No 2) [2018] NSWSC 1936 Hearing dates: 11 December 2018 Date of orders: 11 December 2018 Decision date: 11 December 2018 Jurisdiction: Equity - Corporations List Before: Brereton J Decision: Liquidator would be justified in paying admitted claims and distributing residuary fund equally between the potential claimants: see para [13] Catchwords: CORPORATIONS – External administration – liquidation – administration of trust property of corporation – where residuary funds held on trust for numerous potential claimants whose claims cannot be proved or distinguished – held, liquidator would be justified in distributing residuary fund after paying proved claims equally between the potential claimants and that this would be preferable to payment into court Cases Cited: French Caledonia Travel Services Pty Ltd, Re (2002) 59 NSWLR 361 Lehman Brothers International (Europe) (in admin), Re [2012] UKSC 6; [2012] 3 All ER 1. MF Global Australia Ltd (in liq), Re [2012] NSWSC 994 The Arms Global Group Ltd, In the Matter of [2018] NSWSC 512 Category: Consequential orders (other than Costs) Parties: The Arms Global Group Pty Limited (in Liquidation) (ACN 089 619 661) (first plaintiff) Mark Raymond Hutchins in his capacity as liquidator of Arms Global Group Pty Limited (ACN 089 619 661) (second plaintiff) Representation: Counsel: D R Stack (plaintiffs)

Solicitors: Piper Alderman (plaintiffs) File Number(s): 2017/ 376732