In the matter of NR Wolli Creek Pty Ltd (recs & mgrs apptd) [2019] NSWSC 313

Supreme Court New South Wales

Medium Neutral Citation: In the matter of NR Wolli Creek Pty Ltd (recs & mgrs apptd) [2019] NSWSC 313 Hearing dates: 5 February 2019 Decision date: 05 February 2019 Jurisdiction: Equity - Corporations List Before: Black J Decision: Approve Applicants' remuneration as joint and several provisional liquidators of the Third Defendant in the sum of $57,548 in respect of the period 27 March 2018 to 13 May 2018. Catchwords: CORPORATIONS – winding up – provisional liquidators – remuneration – application for approval of remuneration under s 60-16 of the Insolvency Practice Schedule (Corporations) (Cth) – where significant amount of work related to investigations and statutory duties – where significant amount of work undertaken by more senior staff – whether remuneration claimed by provisional liquidators is proportionate to complexities of the matter. Legislation Cited: - Corporations Act 2001 (Cth) s 473(10) - Insolvency Practice Schedule (Corporations) (Cth) s 60-16 - Supreme Court (Corporations) Rules 1999 (NSW) r 9.3 Cases Cited: - Re Plutus Payroll Australia Pty Ltd (in liq) [2018] NSWSC 1092 - Re Sakr Nominees Pty Ltd [2017] NSWSC 668 - Sanderson as Liquidator of Sakr Nominees Pty Ltd (in liq) v Sakr [2017] NSWCA 38; (2017) 118 ACSR 333 Category: Procedural and other rulings Parties: Shumiao Zhu (First Plaintiff) BB Wolli Pty Ltd (recs and mgrs apptd) (Second Plaintiff) PA Resources Opportunity Ltd (First Defendant) Costa Nicodemou and Peter Krejci (Second Defendant) NR Wolli Creek Pty Ltd (recs and mgrs apptd) (in prov liq) (Third Defendant) Collrea Wolli Pty Ltd (Fourth Defendant) Festival Corp Wolli Pty Ltd (Fifth Defendant) Representation: Counsel: J Hynes (Applicant)