In the matter of Banksia Securities Limited (in liq) (recs and mgrs apptd) [2019] NSWSC 1899

Supreme Court New South Wales

Medium Neutral Citation: In the matter of Banksia Securities Limited (in liq) (recs and mgrs apptd) [2019] NSWSC 1899 Hearing dates: 16 December 2019 Date of orders: 16 December 2019 Decision date: 16 December 2019 Jurisdiction: Equity - Corporations List Before: Black J Decision: The remuneration of the special purpose receivers for the period 23 August 2018 to 30 September 2019 is approved and fixed in the sum of $315,273 plus GST. Order made discharging one of two special purpose receivers. Catchwords: CORPORATIONS – external administration – application to approve the remuneration of special purpose receivers for work already performed –whether the amount of remuneration claimed is reasonable and whether it is to be calculated on a time-charged basis – application to discharge one of two special purpose receivers. Legislation Cited: - Corporations Act 2001 (Cth) s 283HB - Uniform Civil Procedure Rules 2005 (NSW) r 26.4 Cases Cited: - Re Banksia Securities Ltd (in liq) (recs and mgrs apptd) [2017] NSWSC 540 - Re Banksia Securities Ltd (in liq) (recs and mgrs apptd) [2019] NSWSC 136 - Re Say Enterprises Pty Ltd [2018] NSWSC 396 - Sanderson, as liquidator of Sakr Nominees Pty Ltd (in liq) v Sakr [2017] NSWCA 38; (2017) 93 NSWLR 459 Category: Procedural and other rulings Parties: The Trust Company (Nominees) Limited (Plaintiff) Representation: Counsel: J Redwood (Special Purpose Receivers)

Solicitors: Maddocks (Special Purpose Receivers) File Number(s): 2015/252832