In the matter of Beechworth Land Estates Pty Ltd (Admin Apt) and Griffith Estates Pty Ltd (Admin Apt) (No 3)

[2015] NSWSC 733

Supreme Court of NSW

Built by Barristers,
For Australian Law.

1. Procedure
2. › applications for summary dismissal and strike out by defendants
3. › whether the first plaintiff was a creditor for the purposes of the Corporations Act 2001 (Cth) at the time of filing of the claim - first plaintiff was not a creditor at that time
4. › first plaintiff acquired debt for a collateral purpose
5. › first plaintiff’s claim dismissed in relation to Beechworth
1. Procedure
2. › costs
3. › security for costs
4. › whether the sixth plaintiff should provide security to defendants for costs of defending proceedings concerning Beechworth
5. › sixth plaintiff failed to produce evidence of its financial capacity or respond to a notice to produce
6. › held there is reason to believe it may be unable to pay costs if ordered
7. › order for security for costs
1. Procedure
2. › substitution of plaintiff parties to prosecute derivative claims on behalf of company
3. › company in administration
4. › s 237 Corporations Act 2001 (Cth) not relevant
5. › application in the discretion of the Court
6. › Court must be confident that the plaintiff is acting in the overall interests of company in administration
7. › Court will not order substitution of parties
8. › leave given to sixth plaintiff to renew its application with further evidence