In the matter of University Co-operative Bookshop Limited (admins apptd) (No 2) [2020] NSWSC 97

Supreme Court New South Wales

Medium Neutral Citation: In the matter of University Co-operative Bookshop Limited (admins apptd) (No 2) [2020] NSWSC 97 Hearing dates: In Chambers (on the papers) Date of orders: 20 February 2020 Decision date: 20 February 2020 Jurisdiction: Equity - Corporations List Before: Gleeson J Decision: Directions given under s 90-15, Insolvency Practice Schedule (Corporations) and orders made under s 447A, Corporations Act 2001 (Cth) Catchwords: CORPORATIONS – voluntary administration – co-operative registered in New South Wales under Co-operatives National Law – application of Pt 5.3A Corporations Act 2001 (Cth) to a co-operative – application for directions – Insolvency Practice Schedule (Corporations) s 90-15 – whether relevant provisions of Insolvency Practice Schedule and Insolvency Practice Rules (Corporations) 2016 broadly equivalent to repealed provisions of Pt 5.3A Corporations Act 2001 (Cth) and Corporations Regulations 2001 (Cth) – direction given under s 90-15

CORPORATIONS – voluntary administration – whether operation of Pt 5.3A should be modified in relation to the administration of a co-operative – whether new provisions of Insolvency Practice Schedule and Insolvency Practice Rules should apply to administration of co-operative – order made under Corporations Act s 447A Legislation Cited: Co-operatives (Adoption of National Law) Act 2012 (NSW), ss 4, 13, 15, 382 Corporations (Ancillary Provisions) Act 2001 (NSW), Pt 3 Corporations Act 2001 (Cth), ss 436A, 447A, Pt 5.3A, Div 3 - Pt 5.9, Sch 2 Corporations Regulations 2001 (Cth) Insolvency Practice Rules (Corporations) 2016 Insolvency Practice Schedule (Corporations), s 90-15 Cases Cited: Australasian Memory Pty Ltd v Brien (2000) 200 CLR 270; [2000] HCA 30 Re Ansett Australia Limited and Korda (No 3) [2002] FCA 90; (2002) 115 FCR 409 Re Belmont Sportsmans' Club Co-operative Ltd [2015] NSWSC 543 Reidy, In the matter of eChoice Ltd (Admin Apptd) [2017] FCA 1582 Re University Co-operative Bookshop Limited (admins apptd) [2019] NSWSC 1898 Category: Principal judgment Parties: Philip Carter, Daniel Walley, Andrew Scott / PricewaterhouseCoopers (Plaintiff / Administrators) Representation: Counsel: