In the matter of Anglican Development Fund Diocese of Bathurst Board (recs and mgrs apptd) [2015] NSWSC 59

In the matter of Anglican Development Fund Diocese of Bathurst Board (recs and mgrs apptd) [2015] NSWSC 59

The application was non-adversarial in character, so costs would not necessarily follow the event. The Applicants are permitted to make an interim distribution to creditors in accordance with the Distribution Schedule. The Receivers' costs are to be costs in the receivership, and no order is made as to costs between the Applicants and the Anglican Property Trust Diocese of Bathurst Board.

Parties
Plaintiffs/applicants: Barry Frederic Kogan and Joseph David Hayes in their capacity as receivers and managers of the Anglican Development Fund Diocese of Bathurst Board (receivers and managers appointed); Defendant: Anglican Development Fund Diocese of Bathurst Board (receivers and managers appointed); Appearing on Application: Anglican Property Trust Diocese of Bathurst Board
Jurisdiction
Australia
Judgment Date
26 February 2015
Procedural Posture
Interlocutory Application / Judgment on Interim Distribution and Costs Orders
Outcome
Application granted.
Legal Topics
Procedure, Costs, Receivership, Interim Distribution, Trusts
Equity Corporations Procedure Costs Receivership Interim Distribution Trusts

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Parties

Barry Frederic Kogan and Joseph David Hayes in their capacity as receivers and managers of the Anglican Development Fund Diocese of Bathurst Board (receivers and managers appointed)

Plaintiffs/applicants

Anglican Development Fund Diocese of Bathurst Board (receivers and managers appointed)

Defendant

Anglican Property Trust Diocese of Bathurst Board

Appearing on Application

Procedural Posture

Interlocutory Application / Judgment on Interim Distribution and Costs Orders

Legal Issues

  1. 1 Whether an interim distribution to creditors is permitted
  2. 2 Appropriate form of order for interim distribution
  3. 3 Whether receivers' costs should be costs in the receivership

Ratio Decidendi

The application was non-adversarial in character, so costs would not necessarily follow the event. The Applicants are permitted to make an interim distribution to creditors in accordance with the Distribution Schedule. The Receivers' costs are to be costs in the receivership, and no order is made as to costs between the Applicants and the Anglican Property Trust Diocese of Bathurst Board.

Court Disposition

Application granted.

Orders

  • The Applicants are permitted to make an interim distribution to creditors of the Anglican Development Fund Diocese of Bathurst Board (Receivers and Managers Appointed) in accordance with the Distribution Schedule annexed to the orders and marked "A".
  • The Court notes and accepts the undertaking given by the Commonwealth Bank of Australia to the Court by letter dated 12 February 2015 that it will repay any distribution made to it, if an order is made by a Court which reduces, extinguishes or gives rise to a set-off against the judgment debt entered in these...