Grain Technology Australia Ltd v Rosewood Research Pty Ltd (No 2) [2019] NSWSC 1744

Supreme Court New South Wales

Medium Neutral Citation: Grain Technology Australia Ltd v Rosewood Research Pty Ltd (No 2) [2019] NSWSC 1744 Hearing dates: 25 October 2019 Date of orders: 07 November 2019 Decision date: 07 November 2019 Jurisdiction: Equity - Applications List Before: Parker J Decision: See [37]. Catchwords: EQUITY — Receivers and managers appointed by court over certain property — Application for approval of Deed of Settlement and Release providing certain aspects condition upon "approval from the Court" – where Receiver did not seek judicial advice or approval of Court in terms – principles governing directions to receivers, judicial advice and administration proceedings – proceedings resolved by agreement for direction that further deed be entered excluding requirement for approval by the Court.

COSTS – payment of plaintiff's costs sought out of companies' assets – where cross-claim would not otherwise have been brought by company against directors – where claim largely stood on work underpinning primary claim in proceedings – costs accepted as appropriate by parties. Legislation Cited: Trustee Act 1925 (NSW), s 63 Uniform Civil Procedure Rules 2005 (NSW) ("UCPR"), Part 54, r 54.3 Cases Cited: Davis v Gray 83 US 203 (1872) Glazier Holdings Pty Ltd v Australian Mens Health Pty Ltd (Supreme Court (NSW), Young J, 30 April 1998, unrep) Macedonian Orthodox Community Church St Petka Inc v His Eminence Petar, the Diocesan Bishop of the Macedonian Orthodox Diocese of Australia and New Zealand (2008) 237 CLR 66; [2008] HCA 42 Mariconte v Batiste (2000) 48 NSWLR 724; [2000] NSWSC 288 Marley v Mutual Security Merchant Bank & Trust Co Ltd [1991] 3 All ER 198 Re IOOF Australia Trustees Ltd (1999) 205 LSJS 98; [1999] SASC 461 Re Perpetual Trustee Company Limited [2010] NSWSC 1403 Wallersteiner v Moir (No 2) [1975] QB 373; [1975] 1 ALL ER 849; [1975] 2 WLR 389 Category: Procedural and other rulings Parties: Grain Technology Australia Ltd (First Plaintiff) Raymond Bruce Schwartz (Second Plaintiff) Manidra Flour Mills Pty Ltd (Third Plaintiff) Bakers Delight Holdings Limited (Fourth Plaintiff)