Chou, in the matter of APR Detailed Joinery Pty Ltd (in liq)

The matter before the Court was an application by the liquidators of APR Detailed Joinery Pty Ltd (in liquidation), Ernie Kierston Chou and Trent Aaron McMillen, for an order appointing them as joint and several receivers and managers of the assets of the APR Joinery Trust. The Trust was established by a deed dated 12 February 1987. The primary issue before the Court was whether the liquidators should be appointed as receivers and managers of the Trust's assets and, if so, what powers they should be granted and how their remuneration and expenses should be determined.

The Court considered the application under the relevant statutory framework, particularly sections 420 and 57 of the Corporations Act 2001 and the Federal Court of Australia Act 1976. The Court found that the liquidators were appropriately qualified to act as receivers and managers given their existing role and expertise. The Court granted the application, appointing the liquidators as joint and several receivers and managers of the Trust's assets, without security. The Court also granted them the powers specified in section 420 of the Corporations Act, excluding certain powers that were not applicable in this context. The Court further directed that the costs, expenses, and remuneration of the Receivers be paid from the Trust Property in accordance with the priority set out in section 556(1) of the Corporations Act. The remuneration was to be calculated at the professional rates specified in the "Initial Remuneration Advice To Creditors" attached to the liquidators’ report to creditors.

The Court concluded by setting out the terms of the appointment, the powers of the Receivers, and the method for calculating their remuneration. The parties and any person with a sufficient interest under the Trust were granted liberty to apply on seven days’ notice. The entry of the orders was governed by Rule 39.32 of the Federal Court Rules 2011.