In the matter of Liquid Vision Pty Ltd (in liquidation) (deregistered) [2019] NSWSC 1464

In the matter of Liquid Vision Pty Ltd (in liquidation) (deregistered) [2019] NSWSC 1464

In the unique circumstances where the parties who paid funds into court for security for costs are deregistered, the liquidator cannot be contacted, and no other party claims entitlement to the funds, it is appropriate to order payment out to the only remaining claimant rather than to Treasury, especially where all reasonable efforts have been made to locate other possible claimants and the amount is small.

Jurisdiction
Australia
Judgment Date
28 October 2019
Procedural Posture
Application Under Uniform Civil Procedure Rules 2005 (nsw) R 41.3 / Post Settlement, Application for Payment Out of Court of Funds
Outcome
Order made for payment out of funds in court to first defendant.
Legal Topics
['funds in Court' 'security for Costs' 'winding Up of Companies' 'entitlement to Payment of Funds' 'payment Out of Court']
['civil Procedure' 'corporations Law'] ['funds in Court' 'security for Costs' 'winding Up of Companies' 'entitlement to Payment of Funds' 'payment Out of Court']

Case Brief

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Procedural Posture

Application Under Uniform Civil Procedure Rules 2005 (nsw) R 41.3 / Post Settlement, Application for Payment Out of Court of Funds

Legal Issues

  1. 1 ['Whether funds paid into court for security for costs should be paid out to the first defendant where the original plaintiffs and liquidator cannot be contacted and plaintiffs are deregistered']

Ratio Decidendi

In the unique circumstances where the parties who paid funds into court for security for costs are deregistered, the liquidator cannot be contacted, and no other party claims entitlement to the funds, it is appropriate to order payment out to the only remaining claimant rather than to Treasury, especially where all reasonable efforts have been made to locate other possible claimants and the amount is small.

Court Disposition

Order made for payment out of funds in court to first defendant.

Orders

  • ['Order pursuant to rule 41.3 of the Uniform Civil Procedure Rules 2005 (NSW) that the funds paid into court by the plaintiffs in the amount of $5,000 together with all accrued interest thereon be paid out to the first defendant.']