In the matter of Worthbrook Pty Limited (No 2) [2017] NSWSC 1335

In the matter of Worthbrook Pty Limited (No 2) [2017] NSWSC 1335

The correction to the previously ordered amount due from Worthbrook's claim against Rolcross (and consequently Rolcross's claim in the Worthbrook liquidation) is justified based on the corrected arithmetic as submitted by the liquidator, and directions for distribution, payment of expenses, and admission of claims are thereby re-issued in the corrected terms.

Jurisdiction
Australia
Judgment Date
03 October 2017
Procedural Posture
Corporations List Equity / Application for Directions / Consequential Orders
Outcome
Orders made as per previous judgment, as corrected by the Liquidator's submission
Legal Topics
['external Administration' 'winding Up' 'liquidators' 'directions' 'correction of Orders']
['corporations Law' 'equity'] ['external Administration' 'winding Up' 'liquidators' 'directions' 'correction of Orders']

Case Brief

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Procedural Posture

Corporations List Equity / Application for Directions / Consequential Orders

Legal Issues

  1. 1 ['Whether liquidator is justified in certain distributions and admissions of claims in winding up' 'Whether arithmetic in prior orders required correction']

Ratio Decidendi

The correction to the previously ordered amount due from Worthbrook's claim against Rolcross (and consequently Rolcross's claim in the Worthbrook liquidation) is justified based on the corrected arithmetic as submitted by the liquidator, and directions for distribution, payment of expenses, and admission of claims are thereby re-issued in the corrected terms.

Court Disposition

Orders made as per previous judgment, as corrected by the Liquidator's submission

Orders

  • ['The Liquidator is justified in treating Worthbrook Pty Ltd as trustee only for specified properties and proceeds.' 'The Liquidator may pay reasonable expenses and approved remuneration of the Worthbrook liquidation from trust assets.' 'The Liquidator may distribute bank account 112-879 127 XX0 511 funds equally...