In the matter of Australasian Barristers Chambers Pty Ltd [2019] NSWSC 799

In the matter of Australasian Barristers Chambers Pty Ltd [2019] NSWSC 799

It was reasonable for the receiver to take possession of and sell Suite 602 to enforce the company's right of indemnity. However, not all work claimed was reasonably undertaken or proportionate. The Court scrutinised the claim, reduced excessive or inefficient components, and fixed the applicant's remuneration for the receivership at $90,000.00. The receiver was justified in paying his remuneration out of the proceeds of sale of the property.

Jurisdiction
Australia
Judgment Date
28 June 2019
Procedural Posture
Remuneration Application in Receivership / Principal Judgment on Application for Court Approval of Receiver's Remuneration
Outcome
Remuneration of court-appointed receiver fixed at $90,000; receiver justified in paying this from sale proceeds.
Legal Topics
['receivership Remuneration' 'court Appointed Receiver' 'right of Indemnity' 'liquidator Powers' 'sale of Trust Property']
['corporations' 'equity'] ['receivership Remuneration' 'court Appointed Receiver' 'right of Indemnity' 'liquidator Powers' 'sale of Trust Property']

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Procedural Posture

Remuneration Application in Receivership / Principal Judgment on Application for Court Approval of Receiver's Remuneration

Legal Issues

  1. 1 ['What is reasonable remuneration for the work undertaken by the court-appointed receiver?' 'Was it reasonable for the receiver to take possession of and sell Suite 602?' 'Was the sale of Suite 602 reasonably conducted?' 'Was the work undertaken by the receiver proportionate and necessary for the receivership?']

Ratio Decidendi

It was reasonable for the receiver to take possession of and sell Suite 602 to enforce the company's right of indemnity. However, not all work claimed was reasonably undertaken or proportionate. The Court scrutinised the claim, reduced excessive or inefficient components, and fixed the applicant's remuneration for the receivership at $90,000.00. The receiver was justified in paying his remuneration out of the proceeds of sale of the property.

Court Disposition

Remuneration of court-appointed receiver fixed at $90,000; receiver justified in paying this from sale proceeds.

Orders

  • ["Pursuant to Uniform Civil Procedure Rules 2005 r 26.4, the applicant's remuneration as receiver of Lots 21, 31 and 34 in Strata Plan 21574 is fixed at $90,000.00." 'The applicant as receiver is justified in paying that remuneration from the proceeds of sale of the property.']