In the matter of Mecfab Holdings Pty Ltd [2015] NSWSC 2053

In the matter of Mecfab Holdings Pty Ltd [2015] NSWSC 2053

Given unit holders were notified and have not objected, and a majority have expressly consented, the receiver's claimed remuneration is reasonable and should be approved, and the statement of accounts should be passed without further accounting.

Parties
Applicant: Darren John Vardy; First Respondent: Mecfab Holdings Pty Ltd (voluntary administrator appointed) ACN 124 869 736; Second Respondent: Christopher Paul Nicholson; Third Respondent: Michael Dolso; Fourth Respondent: Mark Antony Cutts
Jurisdiction
Australia
Judgment Date
27 April 2015
Procedural Posture
Corporations Receivership Remuneration Approval / Application for Approval of Receiver's Remuneration and Passing of Accounts
Outcome
Receiver's remuneration approved. Receiver's statement of accounts passed. Orders made as per judgment.
Legal Topics
Receivers—controllers—managers—remuneration and Expenses—approval of Remuneration—receiver's Accounts—unit Trust
Corporations Receivers—controllers—managers—remuneration and Expenses—approval of Remuneration—receiver's Accounts—unit Trust

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Parties

Darren John Vardy

Applicant

Mecfab Holdings Pty Ltd (voluntary administrator appointed) ACN 124 869 736

First Respondent

Christopher Paul Nicholson

Second Respondent

Michael Dolso

Third Respondent

Mark Antony Cutts

Fourth Respondent

Procedural Posture

Corporations Receivership Remuneration Approval / Application for Approval of Receiver's Remuneration and Passing of Accounts

Legal Issues

  1. 1 Whether the receiver's remuneration should be approved
  2. 2 Whether the receiver's statement of accounts should be passed

Ratio Decidendi

Given unit holders were notified and have not objected, and a majority have expressly consented, the receiver's claimed remuneration is reasonable and should be approved, and the statement of accounts should be passed without further accounting.

Court Disposition

Receiver's remuneration approved. Receiver's statement of accounts passed. Orders made as per judgment.

Orders

  • The remuneration of Darren John Vardy as receiver of the Mecfab Enterprises Trust for the period 10 February to 13 April 2015 be approved in the amount of $100,000 exclusive of GST.
  • The receiver's accounts as set out at page 9 of the affidavit sworn 27 April 2015 and elaborated by the advice to the Court as to the further payment to the company be passed, and any requirement for further accounts be dispensed with.