In the matter of CB Constructions (NSW) Pty Ltd [2014] NSWSC 1891

In the matter of CB Constructions (NSW) Pty Ltd [2014] NSWSC 1891

Special leave to distribute surplus assets in liquidation should be granted where the liquidator has shown, with evidence, that all creditors have been paid, a surplus exists, and proposed distribution to identified contributories is proper and unopposed.

Jurisdiction
Australia
Judgment Date
08 December 2014
Procedural Posture
Corporations – Winding Up Application / Application by Liquidator for Special Leave to Distribute Surplus Assets
Outcome
Application granted
Legal Topics
['liquidation' 'distribution of Surplus Assets' 'leave to Distribute Surplus' 'costs in Liquidation']
['corporations Law' 'civil Procedure'] ['liquidation' 'distribution of Surplus Assets' 'leave to Distribute Surplus' 'costs in Liquidation']

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Procedural Posture

Corporations – Winding Up Application / Application by Liquidator for Special Leave to Distribute Surplus Assets

Legal Issues

  1. 1 ['Whether a surplus exists in the liquidation of the company' 'Whether special leave should be granted to the liquidator to distribute the surplus to contributories' 'Whether all creditors have been paid and the correct contributories identified']

Ratio Decidendi

Special leave to distribute surplus assets in liquidation should be granted where the liquidator has shown, with evidence, that all creditors have been paid, a surplus exists, and proposed distribution to identified contributories is proper and unopposed.

Court Disposition

Application granted

Orders

  • ['Special leave granted to distribute surplus to contributories of CB Constructions (NSW) Pty Ltd' 'Costs of the application to be a cost and expense of the liquidation']