In the matter of Courtenay House Capital Trading Group Pty Ltd (in liq) [2019] NSWSC 495

Supreme Court New South Wales

Medium Neutral Citation: In the matter of Courtenay House Capital Trading Group Pty Ltd (in liq) [2019] NSWSC 495 Hearing dates: 26 April 2019 Date of orders: 26 April 2019 Decision date: 26 April 2019 Jurisdiction: Equity - Corporations List Before: Black J Decision: The liquidators are justified in their entering into the deeds of settlement and release. Catchwords: CORPORATIONS – winding up – application for directions that liquidators are justified in entering into deeds of settlement and release – where liquidators' claim was strongly arguable – where risk and significant costs in pursuing litigation – where litigation is unlikely to result in greater return to creditors than settlement – whether directions sought should be made. Legislation Cited: - Corporations Act 2001 (Cth) ss 479, 511 - Trustee Act 1925 (NSW) ss 49(1)(d), 63 - Insolvency Practice Schedule (Corporations) s 90-15 Cases Cited: - Application by John William Kellert (No 2) [2018] NSWSC 94 - Campbell ATF the Joan Macpherson Trust and the Banandra Pastoral Settlement Trust [2016] NSWSC 1751 - Cowan v Lai [2014] NSWSC 1143 - Re Octaviar Administration Pty Ltd (in liq) [2017] NSWSC 1556 - Walley; Re Poles and Underground Pty Ltd (admins apptd) [2017] FCA 486 Category: Procedural and other rulings Parties: Courtenay House Capital Trading Group Pty Ltd (in liq) (First Plaintiff) Courtenay House Pty Ltd (in liq) (Second Plaintiff) David Sipina (Second Defendant) Athan Papoulias (Third Defendant) Sipina Enterprises Pty Ltd (Fifth Defendant) TheNowGroup.com.au Pty Ltd (Sixth Defendant) Arbejo Pty Ltd (Seventh Defendant) Representation: Counsel: D Robertson (Plaintiffs)