Re HIH Services Pty Ltd (In Liq); Re HIH New Zealand Pty Ltd (In Liq); Re HIH Australia Pty Ltd (In Liq); Re Mariners on the Water Pty Ltd (In Liq); Re FAI Property (Qld) Pty Ltd (In Liq); Re FAI Property Services Pty Ltd (In Liq); Re Sailport Pty Ltd (In Liq); Re Bingaton Pty Ltd (In Liq); Re Worldwide Weather Underwriting Agencies (Australia) Pty Limited (In Liq)

[2012] NSWSC 1188

Supreme Court of NSW

Built by Barristers,
For Australian Law.

1. CORPORATIONS — external administration — insolvency — distribution of surplus in liquidators' hands — Whether special leave should be granted to liquidators — Direction dispensing with schedule of entitlements — Where case simple and straightforward — Assignment of debt — Where company in liquidation owed debt by another company in liquidation in same corporate group — Where sole contributory another company in same corporate group — Whether company in liquidation can transfer debt owed by other company in liquidation in same corporate group to contributory — Distribution in specie — Company's constitution