In the matter of Double Bay Property Management Pty Ltd (in liq) [2020] NSWSC 203

Supreme Court New South Wales

Medium Neutral Citation: In the matter of Double Bay Property Management Pty Ltd (in liq) [2020] NSWSC 203 Hearing dates: 3 March 2020 Date of orders: 03 March 2020 Decision date: 03 March 2020 Jurisdiction: Equity - Corporations List Before: Gleeson J Decision: Receiver and manager appointed over trust property Catchwords: CORPORATIONS – winding up – company in creditors' voluntary liquidation – where business of company conducted in capacity of trustee – where company removed as trustee upon winding up by ipso facto clause in trust deed – liquidators seek to be appointed receivers and managers of assets and undertaking of the trust – Supreme Court Act 1970 (NSW) s 67 and Court's inherent jurisdiction – ex parte application – where urgent circumstances justifying appointment – whether Court should make appointment nunc pro tunc Legislation Cited: Corporations Act 2001 (Cth), s 494 Supreme Court Act 1970 (NSW), s 67 Cases Cited: Jones (in his capacity as liquidator of Killarnee Civil & Concrete Contractors Pty Ltd) v Matrix Partners Pty Ltd [2018] FCAFC 40; (2018) 354 ALR 436\ Re Clarke [1898] 1 Ch 336 Re Gramarker Pty Ltd; Sanderson (as liquidator of Gramarker Pty Ltd) v Kerr [2014] NSWSC 243 Re Hercules Car Parking Systems (Victoria) (Pty Ltd) [2018] NSWSC 409 Texts Cited: Kerr and Hunter on Receivers and Managers (Sweet & Maxwell, 20th ed, 2018) Category: Principal judgment Parties: Jonathan Philip Henry and Katherine Sozou in their capacity as joint and several liquidators of Double Bay Property Management Pty Ltd (in liq) (First plaintiff) Double Bay Property Management Pty Ltd (in liq) (Second plaintiff) Representation: Counsel: D Krochmalik (Plaintiffs)