Barnden (liquidator), in the matter of MV Developments (Lane Cove) Pty Ltd (in liq) [2021] FCA 1110

Barnden (liquidator), in the matter of MV Developments (Lane Cove) Pty Ltd (in liq) [2021] FCA 1110

The Court approved the liquidator's claimed remuneration for completed work, finding that it was fair, reasonable, and proportionate to the work performed and the complexity/value involved, in accordance with s 473(10) Corporations Act 2001 (Cth) and relevant authorities. The Court also approved additional capped remuneration for prospective work reasonably necessary to conclude the liquidation, and dispensed with compliance with rr 9.4 and 9.4A of the Federal Court (Corporations) Rules 2000, given procedural fairness had been accorded and no creditor opposed the application.

Jurisdiction
Australia
Judgment Date
06 September 2021
Procedural Posture
Corporations Liquidator's Remuneration Application / Application for Approval of Remuneration Federal Court Determination
Outcome
Application granted: liquidator's remuneration for completed and future work approved; compliance with certain procedural rules dispensed with; costs of application to be part of liquidation expenses.
Legal Topics
["liquidators' Remuneration" 'winding Up' 'court Approval of Remuneration' 'dispensation With Procedural Rules' 'proportionality of Remuneration']
['corporations Law' 'insolvency'] ["liquidators' Remuneration" 'winding Up' 'court Approval of Remuneration' 'dispensation With Procedural Rules' 'proportionality of Remuneration']

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Procedural Posture

Corporations Liquidator's Remuneration Application / Application for Approval of Remuneration Federal Court Determination

Legal Issues

  1. 1 ["Whether the liquidator's claimed remuneration for work performed is reasonable and should be approved by the Court; Whether further remuneration should be approved for work yet to be performed in completing the liquidation; Whether compliance with Federal Court (Corporations) Rules 2000 should be dispensed with"]

Ratio Decidendi

The Court approved the liquidator's claimed remuneration for completed work, finding that it was fair, reasonable, and proportionate to the work performed and the complexity/value involved, in accordance with s 473(10) Corporations Act 2001 (Cth) and relevant authorities. The Court also approved additional capped remuneration for prospective work reasonably necessary to conclude the liquidation, and dispensed with compliance with rr 9.4 and 9.4A of the Federal Court (Corporations) Rules 2000, given procedural fairness had been accorded and no creditor opposed the application.

Court Disposition

Application granted: liquidator's remuneration for completed and future work approved; compliance with certain procedural rules dispensed with; costs of application to be part of liquidation expenses.

Orders

  • ['Remuneration of Mr Andrew James Barnden as liquidator approved in the amount of $546,429.30 (excluding GST) for work between 31 August 2015 and 29 November 2020.' 'Barnden entitled to further reasonable remuneration for work from 18 August 2021 to conclusion of liquidation, up to $20,000 (excluding GST).'...