Tayeh and De Vries re The Black Stump Enterprises Pty Ltd & Ors [2005] NSWSC 475
The court rejected the plaintiffs' application to pool assets across nine companies for the purpose of creditor payment due to a lack of statutory authority and absence of unanimous creditor assent; s.511 is not a basis to alter rights absent consent.
- Parties
- Plaintiff: Riad Tayeh; Plaintiff: Anthony De Vries; Company (in Liquidation): The Black Stump Enterprises Pty Ltd; Company (in Liquidation): BR Finance Pty Ltd; Company (in Liquidation): Carlemos Pty Ltd; Company (in Liquidation): Kilanis Pty Ltd; Company (in Liquidation): Partoor Pty Ltd; Company (in Liquidation): BS Accounting & Consulting Pty Ltd; Company (in Liquidation): Filose Pty Ltd; Company (in Liquidation): Narera Pty Ltd; Company (in Liquidation): Yorkbridge Pty Ltd
- Jurisdiction
- Australia
- Judgment Date
- 20 May 2005
- Procedural Posture
- Originating Process / Application for Court Orders During Liquidation
- Outcome
- Originating process dismissed
- Legal Topics
- Winding Up, Pooling of Assets and Liabilities, Creditor Rights in Liquidation
Case Brief
Summary, issues, holding and outcome
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Parties
Riad Tayeh
Plaintiff
Anthony De Vries
Plaintiff
The Black Stump Enterprises Pty Ltd
Company (in Liquidation)
BR Finance Pty Ltd
Company (in Liquidation)
Carlemos Pty Ltd
Company (in Liquidation)
Kilanis Pty Ltd
Company (in Liquidation)
Partoor Pty Ltd
Company (in Liquidation)
BS Accounting & Consulting Pty Ltd
Company (in Liquidation)
Filose Pty Ltd
Company (in Liquidation)
Narera Pty Ltd
Company (in Liquidation)
Yorkbridge Pty Ltd
Company (in Liquidation)
Procedural Posture
Originating Process / Application for Court Orders During Liquidation
Legal Issues
- 1 Whether the court has jurisdiction to order pooling of assets and liabilities of multiple companies in liquidation, so creditors are paid from a combined pool without regard to which company owes each creditor
Ratio Decidendi
The court rejected the plaintiffs' application to pool assets across nine companies for the purpose of creditor payment due to a lack of statutory authority and absence of unanimous creditor assent; s.511 is not a basis to alter rights absent consent.
Court Disposition
Originating process dismissed
Orders
- Originating process dismissed; no pooling orders made.
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