Australian Securities and Investments Commission v Dawson [2021] FCA 301

Australian Securities and Investments Commission v Dawson [2021] FCA 301

The Court was satisfied, based on thorough affidavit and documentary evidence provided by the receivers and their legal representatives, that the requested remuneration of $112,154 for PW Kitt Co Pty Ltd (in liquidation) and $10,113 for Larry John Dawson for the period 7 August 2020 to 5 November 2020 was reasonable, fairly and properly apportioned between the two receiverships, and should be approved under s 425 of the Corporations Act 2001 (Cth). The costs of the application were appropriately ordered to be paid out of the assets of the second defendant, PW Kitt Co Pty Ltd.

Parties
Applicant: Australian Securities and Investments Commission; First Respondent: Larry John Dawson; Second Respondent: PW KITT CO PTY LTD (ACN 635 767 047)
Jurisdiction
Australia
Judgment Date
23 February 2021
Procedural Posture
Corporations / Application for Approval of Receivers' Remuneration
Outcome
Application granted. Receivers' remuneration approved and apportioned. Costs of application ordered to be paid from assets of PW Kitt Co Pty Ltd.
Legal Topics
Receivership, Remuneration of Court Appointed Receivers, Apportionment of Costs
Corporations Receivership Remuneration of Court Appointed Receivers Apportionment of Costs

Case Brief

Summary, issues, holding and outcome

More case intelligence is available

Unlock the full research layer for this judgment.

Full judgment text Downloadable case file Legal principles 2 Authorities cited 4 Party arguments 2 Amounts and remedies 2
Sign in to unlock

Parties

Australian Securities and Investments Commission

Applicant

Larry John Dawson

First Respondent

PW KITT CO PTY LTD (ACN 635 767 047)

Second Respondent

Procedural Posture

Corporations / Application for Approval of Receivers' Remuneration

Legal Issues

  1. 1 Whether the proposed remuneration for receivers and managers for PW Kitt Co Pty Ltd (in liquidation) and Larry John Dawson is fair and reasonable pursuant to s 425 of the Corporations Act 2001 (Cth) or alternatively r 14.24 of the Federal Court Rules 2011 (Cth)
  2. 2 Whether the costs were appropriately apportioned between the two receiverships

Ratio Decidendi

The Court was satisfied, based on thorough affidavit and documentary evidence provided by the receivers and their legal representatives, that the requested remuneration of $112,154 for PW Kitt Co Pty Ltd (in liquidation) and $10,113 for Larry John Dawson for the period 7 August 2020 to 5 November 2020 was reasonable, fairly and properly apportioned between the two receiverships, and should be approved under s 425 of the Corporations Act 2001 (Cth). The costs of the application were appropriately ordered to be paid out of the assets of the second defendant, PW Kitt Co Pty Ltd.

Court Disposition

Application granted. Receivers' remuneration approved and apportioned. Costs of application ordered to be paid from assets of PW Kitt Co Pty Ltd.

Orders

  • Remuneration as receivers and managers of PW Kitt Co Pty Ltd (in liquidation) fixed at $112,154 for the period 7 August 2020 to 5 November 2020.
  • Remuneration as receivers and managers of Larry John Dawson fixed at $10,113 for the period 7 August 2020 to 5 November 2020.