One.Tel in the matter of application by Liquidators [2005] NSWSC 1104

One.Tel in the matter of application by Liquidators [2005] NSWSC 1104

Because the Committee of Inspection was deadlocked, there was a question in the winding up capable of determination under s511(1). However, on the evidence provided, the court could not conclude that the fees claimed were proper fees to be paid. The liquidators had to provide details identifying the items of work done, the persons doing the work, time taken and rates claimed, and if agreement was not then obtained the reasonable remuneration should be determined by a registrar or deputy registrar in equity.

Jurisdiction
Australia
Judgment Date
02 November 2005
Procedural Posture
Creditors' Voluntary Winding Up; Application Under Corporations Act 2001 (cth), S511(1) Concerning Liquidators' Remuneration / Directions and Determination of Whether Remuneration Should Be Fixed After Committee of Inspection Deadlock
Outcome
The liquidators did not obtain the orders sought on the present evidence; further particulars were directed and the matter was stood over for further directions and final orders.
Legal Topics
["creditors' Voluntary Winding Up" 'committee of Inspection' "liquidators' Remuneration" 'court Directions Under S511(1)' 'deadlock in Fixing Remuneration']
['corporations' 'insolvency'] ["creditors' Voluntary Winding Up" 'committee of Inspection' "liquidators' Remuneration" 'court Directions Under S511(1)' 'deadlock in Fixing Remuneration']

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Procedural Posture

Creditors' Voluntary Winding Up; Application Under Corporations Act 2001 (cth), S511(1) Concerning Liquidators' Remuneration / Directions and Determination of Whether Remuneration Should Be Fixed After Committee of Inspection Deadlock

Legal Issues

  1. 1 ['Whether the liquidators were entitled to a direction under Corporations Act 2001 (Cth), s511(1) that the fees claimed for periods between 1 October 2004 and 15 July 2005 were proper fees to be paid.' "Whether, where a Committee of Inspection in a creditors' voluntary winding up failed to fix remuneration, the court should determine the remuneration and what information was required for that task."]

Ratio Decidendi

Because the Committee of Inspection was deadlocked, there was a question in the winding up capable of determination under s511(1). However, on the evidence provided, the court could not conclude that the fees claimed were proper fees to be paid. The liquidators had to provide details identifying the items of work done, the persons doing the work, time taken and rates claimed, and if agreement was not then obtained the reasonable remuneration should be determined by a registrar or deputy registrar in equity.

Court Disposition

The liquidators did not obtain the orders sought on the present evidence; further particulars were directed and the matter was stood over for further directions and final orders.

Orders

  • ['Direct the liquidators provide to the Committee of Inspection by 21 November 2005 details identifying items of work done, persons doing such work, time taken for such items of work and rates claimed for such time in respect of each of the periods for which a remuneration claim is made.' 'Stand over to 29 November...