Event and Time
Event Description
This case involves a remuneration application brought by joint and several liquidators and receivers appointed to various companies and trusts within the jurisdiction of the Federal Circuit and Family Court of Australia. The remuneration sought is substantial, with claims made both for work already completed and for prospective work yet to be undertaken.
Application and Claims
The liquidators and receivers claimed remuneration based on:
- Legislative Framework:
- Rule 11.49 of the Federal Circuit and Family Court of Australia (Family Law) Rules 2021. - Section 60-10 of the Insolvency Practice Schedule (Corporations) under the Corporations Act 2001 (Cth). - The inherent jurisdiction of the court.
The amounts sought pertain to several entities in liquidation: 1. Quen Pty Ltd (in liquidation) - $29,454.00 (plus GST) for work from 1 January to 14 July 2023. - $75,000.00 (plus GST) for work from 15 July 2023 to 31 March 2024. 2. E Pty Ltd (in liquidation) - $33,670.50 (plus GST) for the first period and $75,000.00 (plus GST) for the second period. 3. F Pty Ltd (in liquidation) - $30,227.50 (plus GST) for the first period and $75,000.00 (plus GST) for the second period. 4. Quen Family Discretionary Trust - $106,509.00 (plus GST) for the first period and $75,000.00 (plus GST) for the second period. 5. E Family Trust - $132,668.50 (plus GST) for the first period and $75,000.00 (plus GST) for the second period. 6. F Family Trust - $115,098.50 (plus GST) for the first period and $75,000.00 (plus GST) for the second period.
Judicial Decisions
The court decided in favor of liquidators and receivers, ruling that their claims for remuneration were fair and reasonable. The court approved their applications based on the information provided, including affidavits demonstrating the work performed and the complexity of the financial situations of the entities involved.