In the matter of Hunter Rural Division of General Practice Limited (in liquidation) [2015] NSWSC 279

In the matter of Hunter Rural Division of General Practice Limited (in liquidation) [2015] NSWSC 279

The additional remuneration should be approved because the total remuneration, including the further amount sought, would be a little in excess of $100,000, less than 5% of realisations in the liquidation, and was entirely appropriate; the appropriate source of power was s 504, with s 511 alternatively available.

Jurisdiction
Australia
Judgment Date
23 February 2015
Procedural Posture
Application for Order Fixing Liquidators' Remuneration in a Winding Up / Originating Process; Ex Tempore Judgment
Outcome
Liquidators' remuneration fixed. Costs to be paid out of assets of the company.
Legal Topics
["liquidators' Remuneration" 'fixing Remuneration' "creditors' Voluntary Winding Up" "court's Power Under Corporations Act 2001"]
['corporations' 'winding Up'] ["liquidators' Remuneration" 'fixing Remuneration' "creditors' Voluntary Winding Up" "court's Power Under Corporations Act 2001"]

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Procedural Posture

Application for Order Fixing Liquidators' Remuneration in a Winding Up / Originating Process; Ex Tempore Judgment

Legal Issues

  1. 1 ["Whether the Court should fix the liquidators' further remuneration for work done and work to complete the liquidation." "Whether Corporations Act 2001 s 504 or s 511 was the appropriate source of power to fix the liquidators' remuneration."]

Ratio Decidendi

The additional remuneration should be approved because the total remuneration, including the further amount sought, would be a little in excess of $100,000, less than 5% of realisations in the liquidation, and was entirely appropriate; the appropriate source of power was s 504, with s 511 alternatively available.

Court Disposition

Liquidators' remuneration fixed. Costs to be paid out of assets of the company.

Orders

  • ['Pursuant to Corporations Act, s 504(1) and/or s 511(2), the remuneration of the plaintiffs as liquidators of Hunter Rural Division of General Practice Limited (in liquidation) ACN 061 782 965, for the period from 1 October 2013 to finalisation of the liquidation, be fixed in the sum of $35,000 plus GST of $3,500...