In the matter of Catombal Investments Pty Limited [2015] NSWSC 1997

In the matter of Catombal Investments Pty Limited [2015] NSWSC 1997

Leave was granted for final distribution of surplus; remuneration of liquidator was approved as reasonable; leave was given to trustee to vest trusts; liquidator's release was adjourned pending distribution completion.

Jurisdiction
Australia
Judgment Date
20 April 2015
Procedural Posture
Corporations Winding Up / Application for Leave to Make Final Distribution of Surplus; Remuneration Approval; Liquidator Release
Outcome
Leave granted for final distribution of surplus; liquidator's remuneration approved; trustee justified in vesting trusts; liquidator's release adjourned.
Legal Topics
["liquidator's Remuneration" 'distribution of Surplus' 'deregistration' 'trusts Vesting']
['corporations Law' 'equity'] ["liquidator's Remuneration" 'distribution of Surplus' 'deregistration' 'trusts Vesting']

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 1 Authorities cited 2 Party arguments 2 Amounts and remedies 1
Sign in to unlock

Procedural Posture

Corporations Winding Up / Application for Leave to Make Final Distribution of Surplus; Remuneration Approval; Liquidator Release

Legal Issues

  1. 1 ['Whether leave should be granted for final distribution of surplus in winding up' "Whether liquidator's remuneration should be approved by the court where all creditors have been paid" 'Whether liquidator should be released from office' 'Whether trustee would be justified in vesting related trusts']

Ratio Decidendi

Leave was granted for final distribution of surplus; remuneration of liquidator was approved as reasonable; leave was given to trustee to vest trusts; liquidator's release was adjourned pending distribution completion.

Court Disposition

Leave granted for final distribution of surplus; liquidator's remuneration approved; trustee justified in vesting trusts; liquidator's release adjourned.

Orders

  • ['Leave under Corporations Act s 488(2) to distribute surplus to shareholders Brian Munro ($103,344.97) and Graham Munro ($103,344.98).' 'No schedule need be annexed per Corporations Regulations 2001 reg 5.6.71(1).' "Liquidator's remuneration approved: $8,903.89 (12 Sept 2014 - 13 Apr 2015), up to $2,200 (14 Apr...