In the matter of BBY Limited (receivers and managers appointed) (in liquidation) [2019] NSWSC 998

Supreme Court New South Wales

Medium Neutral Citation: In the matter of BBY Limited (receivers and managers appointed) (in liquidation) [2019] NSWSC 998 Hearing dates: 5 August 2019 Decision date: 07 August 2019 Jurisdiction: Equity - Corporations List Before: Rees J Decision: See [32] Catchwords: CORPORATIONS — Winding up — Conduct of liquidation — Costs, charges and expenses — Orders made by the Court for various classes of assets to share costs of recovering further assets — Where this regime impracticable because of illiquidity of one class of assets — Liquidators wish to retreat to interim regime to progress liquidation — Where ultimate effect unchanged — Orders appropriate but for failure to serve all interested parties — Orders for service made. Legislation Cited: Corporations Act 2001 (Cth), ss 479, 511 Trustee Act 1925 (NSW), s 63 Uniform Civil Procedure Rules 2005 (NSW), rr 7.29, 7.30 Cases Cited: Dean-Wilcox v Soluble Solution Hydroponics Pty Limited (1997) 42 NSWLR 209; (1997) 24 ACSR 79 Deloughery v Weston (2010) 79 ACSR 180; [2010] NSWCA 148 In the matter of 7 Steel Distribution Pty Limited (in liquidation) (receivers and managers appointed) [2013] NSWSC 669 In the matter of BBY Limited (receivers and managers appointed) (in liquidation) (2016) 116 ACSR 154; [2016] NSWSC 1366 In the matter of BBY Limited (receivers and managers appointed) (in liquidation) (No 2) (2018) 363 ALR 492; [2018] NSWSC 346 In the matter of BBY Limited (receivers and managers appointed) (in liquidation) (No 3) [2018] NSWSC 1718 Macedonian Orthodox Community Church St Petka Inc. v His Eminence Petar the Diocesan Bishop of Macedonian Orthodox Diocese of Australia and New Zealand (2008) 237 CLR 66; [2008] HCA 4 Onefone Australia Pty Limited v One.Tel Pty Ltd (2010) 78 ACSR 163; [2010] NSWSC 498 Parker, in the matter of Dengi Pty Limited (in liq) [2018] FCA 444 QGC Pty Limited v Bygrave (2010) 186 FCR 376; [2010] FCA 659 Re Anglican Insurance Limited (2008) 26 ACLC 147; [2008] NSWSC 41 Re Ansett Australia Limited and Korda (2002) 115 FCR 409; [2002] FCA 90 Re Estate Late Chow Cho-Poon; Application for judicial advice (2013) 10 ASTLR 251; [2013] NSWSC 844 Re Southern Cross Airlines Holdings Limited (in liq.) [2000] 1 Qd R 84; (1998) 16 ACLC 1,393 Category: Principal judgment Parties: Stephen Ernest Vaughan and Ian Richard Hall in their capacity as liquidators of BBY Limited (receivers and managers appointed) (in liquidation) ACN 006 707 777 (First Plaintiff)