In the matter of FGM Print Pty Ltd and other Companies [2018] NSWSC 1983

Supreme Court New South Wales

Medium Neutral Citation: In the matter of FGM Print Pty Ltd and other Companies [2018] NSWSC 1983 Hearing dates: 14 December 2018 Decision date: 14 December 2018 Jurisdiction: Equity - Corporations List Before: Black J Decision: Orders made appointing several persons who are partners within the firm of Jirsch Sutherland as liquidator of the several companies. Catchwords: CORPORATIONS – external administration – application to appoint person within the same firm as liquidator of companies upon resignation of liquidator – where no question as to propriety of certain transactions under investigation extends beyond presently appointed liquidator – where costs will be reduced where another liquidator from the same firm is appointed – whether it is in the interests of creditors of the companies to appoint a liquidator within the same firm. Legislation Cited: - Corporations Act 2001 (Cth) ss 473, 499, 532 - Insolvency Practice Schedule (Corporations) s 90-15 - Supreme Court (Corporations) Rules 1999 (NSW) r 7.1 Cases Cited: - Re Bridgewater Investments Pty Ltd (in liq) [2013] NSWSC 426 - Re Equiticorp Australia Ltd (in liq) [2017] NSWSC 1456 - Re FGM Print Pty Ltd [2018] NSWSC 1478 - Re Free [2010] NSWSC 1079 Category: Principal judgment Parties: Bradd Morelli (as trustee for the Artemis No 1 Trust) (First Plaintiff) Andrew Spring as trustee for the A&K Spring Family Trust (Second Plaintiff) Trent Devine (Third Plaintiff) Sule Arnautovic (Fourth Plaintiff) Glenn Crisp as trustee for the Crisp Family JS Trust (Fifth Plaintiff) Lloyd Kerr as trustee for the L&N Kerr Family Trust (Sixth Plaintiff) Malcolm Howell as trustee for the MTS Family Trust (Seventh Plaintiff) Amanda Young (Defendant) Representation: Counsel: N Newton (Plaintiffs) G D McDonald (Defendant) C Gray (Australian Securities and Investments Commission – Intervenor)