In the matter of Hawkesbury House Pty Limited (in liquidation) [2019] NSWSC 1673

Supreme Court New South Wales

Medium Neutral Citation: In the matter of Hawkesbury House Pty Limited (in liquidation) [2019] NSWSC 1673 Hearing dates: 26 June 2019 Date of orders: 26 June 2019 Decision date: 26 June 2019 Jurisdiction: Equity - Corporations List Before: Black J Decision: Orders made for removal and replacement of incumbent liquidator and for approving entry into funding agreement. Catchwords: CORPORATIONS – winding up – application for replacement of liquidator – where replacement of liquidator is by consent – where incumbent liquidator has identified avenues for investigation – where substantial creditor willing to fund only replacement liquidator to undertake investigations – whether replacement of liquidator is in best interests of creditors.

CORPORATIONS – winding up – application for approval of entry into funding agreement – whether approval of entry into funding agreement is in best interests of creditors. Legislation Cited: Corporations Act 2001 (Cth) ss 477(2B), 503 Insolvency Practice Schedule (Corporations) ss 90-15, 90-20 Cases Cited: - Re 7 Steel Distribution Pty Ltd (in liq) (recs and mgrs apptd) [2013] NSWSC 669; (2013) 31 ACLC 13-021 - Re 77738930144 Pty Ltd (in liq) (formerly Commercial Indemnity Pty Ltd) [2017] NSWSC 452 - Re ACN 076 673 875 Ltd (2002) 42 ACSR 296 - Re ACN 159 605 188 Pty Ltd (in liq) (formerly Securimax Pty Ltd) [2018] NSWSC 356 - Re Atlas Construction Group Pty Ltd (in liq) [2018] NSWSC 1189 - Re Iris Diversified Property Pty Ltd (in liq) [2018] NSWSC 834 Category: Procedural and other rulings Parties: Hawkesbury City Council (Plaintiff) Hawkesbury House Pty Limited (in liquidation) (First Defendant) Adam Farnsworth (Second Defendant) Representation: Counsel: L Chapman (Plaintiff) D R Stack (Defendants)