In the matter of Australian Company Number 074 962 628 Pty Limited (in liq) (formerly Colonial Staff Super Pty Limited) [2017] NSWSC 370

In the matter of Australian Company Number 074 962 628 Pty Limited (in liq) (formerly Colonial Staff Super Pty Limited) [2017] NSWSC 370

Where the statutory mechanism for fixing a liquidator's remuneration in a members' voluntary winding up cannot operate, the court may fix remuneration under s 511 Corporations Act if just and beneficial. The court, considering the appropriate statutory factors, found the liquidator's claim to be reasonable and granted orders fixing remuneration and the payment of costs and expenses in the amounts claimed, to be paid from the available settlement funds.

Jurisdiction
Australia
Judgment Date
10 April 2017
Procedural Posture
Application in Liquidation / Determination of Liquidator's Remuneration and Orders in Voluntary Winding Up
Outcome
Orders made as sought; liquidator's remuneration and costs fixed and authority to distribute funds granted.
Legal Topics
["liquidator's Remuneration" 'voluntary Winding Up' 'application of Funds' "court's Power in Members' Voluntary Winding Up" 'statutory Interpretation']
['corporations Law' 'insolvency'] ["liquidator's Remuneration" 'voluntary Winding Up' 'application of Funds' "court's Power in Members' Voluntary Winding Up" 'statutory Interpretation']

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Procedural Posture

Application in Liquidation / Determination of Liquidator's Remuneration and Orders in Voluntary Winding Up

Legal Issues

  1. 1 ["Whether the court has power to fix remuneration of a liquidator in a members' voluntary winding up where the statutory mechanism for fixing remuneration is unworkable" "Whether the liquidator's costs and disbursements are reasonable and should be paid from the company funds" 'Appropriate application of settlement funds received by the company']

Ratio Decidendi

Where the statutory mechanism for fixing a liquidator's remuneration in a members' voluntary winding up cannot operate, the court may fix remuneration under s 511 Corporations Act if just and beneficial. The court, considering the appropriate statutory factors, found the liquidator's claim to be reasonable and granted orders fixing remuneration and the payment of costs and expenses in the amounts claimed, to be paid from the available settlement funds.

Court Disposition

Orders made as sought; liquidator's remuneration and costs fixed and authority to distribute funds granted.

Orders

  • ['The remuneration of the first plaintiff, as liquidator of ACN 074 962 628 Pty Limited (in liq), is determined to be $19,404 (inclusive of GST).' "The plaintiffs' costs and disbursements of these proceedings are fixed in the sum of $4,378 (inclusive of GST)." "The first plaintiff, as liquidator, is justified in...