Deppeler, in the matter of Moulamein Grain Co-Operative Limited (in liquidation) (No 2)

In the matter of Moulamein Grain Co-Operative Limited (in liquidation) (No 2), the court was called upon to adjudicate on the distribution of net proceeds from the sale of grain held by the third plaintiff, a grain growers' Co-Operative, which was in liquidation. The receivers sought orders to determine the distribution of these proceeds, while certain growers, who owned approximately 51% by mass of the grain, opposed the receivers' proposed method of distribution and advocated for an alternative method. The growers sought to intervene in the proceeding to contest the receivers' proposed method of distribution.

The central legal issue that the court had to resolve was whether the receivers were justified and acting reasonably in proceeding on the basis that the net proceeds of the grain sale should be distributed in accordance with their proposed method. The court also had to determine whether the growers had abandoned any claims to the so-called "Surplus Grain" or the proceeds thereof. Additionally, the court needed to decide on the appropriate form of relief in the matter.

The court granted leave to the growers to intervene in the proceeding, allowing them to present their arguments regarding the proposed method of distribution. The court found that the growers had not abandoned their claims to the Surplus Grain or its proceeds. The court also decided that the matter would be listed for further hearing to address the appropriate form of relief, including the method of distribution of the proceeds and the receivers' remuneration for their work prior to their appointment. The court directed that oral argument be heard at the same time as the hearing on the principal issue of the appropriate form of relief.

The court made an order granting leave to the interested parties to intervene in the proceeding and listed the matter for further hearing on 3 July 2023 at 2.00pm. The issue of the receivers' remuneration for the period prior to their appointment as receivers was to be heard at the same time as the hearing on the appropriate form of relief.