Onefone Australia Pty Ltd v One.Tel Ltd [2011] NSWSC 59

Onefone Australia Pty Ltd v One.Tel Ltd [2011] NSWSC 59

As opposition to the revised remuneration claim of the special purpose liquidator had been withdrawn, and authority exists under s 511 of the Corporations Act to make interim remuneration orders in appropriate cases, it is appropriate to order payment of two thirds of the revised claim as an interim amount, on the basis of an undertaking by the liquidator to refund any overpayment uncovered when quantification is complete.

Jurisdiction
Australia
Judgment Date
22 February 2011
Procedural Posture
Corporations List (winding Up/remuneration Approval) / Application for Approval of Liquidator's Remuneration (post Revision)
Outcome
Interim remuneration of special purpose liquidator approved and referred to registrar for assessment.
Legal Topics
["liquidator's Remuneration" 'winding Up' 'approval Process']
['corporations Law' 'insolvency'] ["liquidator's Remuneration" 'winding Up' 'approval Process']

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Procedural Posture

Corporations List (winding Up/remuneration Approval) / Application for Approval of Liquidator's Remuneration (post Revision)

Legal Issues

  1. 1 ["Whether the special purpose liquidator's revised remuneration claim should be referred for assessment and an interim payment ordered." 'Whether the court has authority to order an interim payment of remuneration prior to final quantification.']

Ratio Decidendi

As opposition to the revised remuneration claim of the special purpose liquidator had been withdrawn, and authority exists under s 511 of the Corporations Act to make interim remuneration orders in appropriate cases, it is appropriate to order payment of two thirds of the revised claim as an interim amount, on the basis of an undertaking by the liquidator to refund any overpayment uncovered when quantification is complete.

Court Disposition

Interim remuneration of special purpose liquidator approved and referred to registrar for assessment.

Orders

  • ['Revised remuneration claim for 1 July 2009 to 28 February 2010 to be assessed by registrar.' 'Registrar to report to the court the total proper remuneration for the period.' '$264,524.00 (two thirds of the revised claim) to be paid out of the assets of One.Tel Limited as interim remuneration, subject to...