In the matter of EMA Consulting Pty Ltd (in liquidation) [2018] NSWSC 1993

Supreme Court New South Wales

Medium Neutral Citation: In the matter of EMA Consulting Pty Ltd (in liquidation) [2018] NSWSC 1993 Hearing dates: 23 November 2018 Decision date: 23 November 2018 Jurisdiction: Equity - Corporations List Before: Black J Decision: Direction given that Applicants would be justified in relying on creditor approval previously given for their remuneration as voluntary administrators and as liquidators of the Second Plaintiff. Direction given that Applicants would be justified in paying the approved remuneration from the funds presently retained by them either in their capacity as liquidators of the Second Plaintiff or receivers and managers of the ECE Unit Trust. Catchwords: CORPORATIONS – external administration – application for direction that voluntary administrators and liquidators of company are justified in acting in accordance with remuneration approvals given by creditors – where creditors' remuneration approval was directed to a specified period but was applied to a shorter period – where a further creditors' approval was obtained for remuneration after that period – whether voluntary administrators and liquidators are justified in acting in accordance with remuneration approvals – where company is trustee of a trading trust and has no other activities – where voluntary administrators and liquidators' work was directed to the administration of trust assets – whether voluntary administrators and liquidators should be permitted to recover remuneration and expenses from trust assets. Cases Cited: - Australian Securities and Investments Commission v Templeton (2015) 108 ACSR 545 - Re AAA Financial Intelligence Ltd (in liq) (No 2) [2014] NSWSC 1270; (2014) 32 ACLC 14-052 - Re Sakr Nominees Pty Limited [2017] NSWSC 668 - Sanderson as Liquidator of Sakr Nominees Pty Ltd (in liquidation) v Sakr [2017] NSWCA 38; (2017) 93 NSWLR 459 Category: Procedural and other rulings Parties: Simon John Thorn and Bradley John Tonks (First Plaintiffs) EMA Consulting Engineers Pty Ltd (in liquidation) (Second Plaintiff) Staredit Pty Limited atf Wood Family Trust (First Defendant) and eight others Representation: Counsel: S Golledge (Applicants)