Gordon, in the matter of Heydon Park Ltd (ACN 082 041 076) (In Liquidation)

[2005] FCA 950

FEDERAL COURT OF AUSTRALIA

Gordon, in the matter of Heydon Park Ltd (ACN 082 041 076) (In Liquidation) [2005] FCA 950

Corporations Act 2001 (Cth) s 601FN
Corporations Regulations 2001 (Cth) reg 5C.2.02

IN THE MATTER OF HEYDON PARK LTD (ACN 082 041 076) (IN LIQUIDATION)
ROGER CHARLES GORDON & PETER ALEXANDER PORTEOUS
NSD 982 OF 2005

HELY J
24 JUNE 2005
SYDNEY

IN THE FEDERAL COURT OF AUSTRALIA
NEW SOUTH WALES DISTRICT REGISTRY	NSD 982 OF 2005

IN THE MATTER OF HEYDON PARK LTD (ACN 082 041 076) (IN LIQUIDATION)

BETWEEN:	ROGER CHARLES GORDON AND PETER ALEXANDER PORTEOUS PLAINTIFFS
AND:	HEYDON PARK LTD (ACN 082 041 076) (IN LIQUIDATION) DEFENDANT

JUDGE:	HELY J
DATE OF ORDER:	24 JUNE 2005
WHERE MADE:	SYDNEY

THE COURT ORDERS THAT:

1.Australian Hardwood Management Ltd be appointed the temporary responsible entity to the Heydon Park Ginseng Project ARSN 101 443 216.

2.Australian Hardwood Management Ltd be appointed the temporary responsible entity to the Heydon Park Ginseng Project No 2 ARSN 107 685 263.

Note:    Settlement and entry of orders is dealt with in Order 36 of the Federal Court Rules.

IN THE FEDERAL COURT OF AUSTRALIA
NEW SOUTH WALES DISTRICT REGISTRY	NSD 982 OF 2005

IN THE MATTER OF HEYDON PARK LTD (ACN 082 041 076) (IN LIQUIDATION)

BETWEEN:	ROGER CHARLES GORDON AND PETER ALEXANDER PORTEOUS PLAINTIFFS
AND:	HEYDON PARK LTD (ACN 082 041 076) (IN LIQUIDATION) DEFENDANT

JUDGE:	HELY J
DATE:	24 JUNE 2005
PLACE:	SYDNEY

REASONS FOR JUDGMENT

1. In this matter there is, at least, some doubt as to whether Heydon Park Ltd, which is in both receivership and in liquidation, continues to be the responsible entity for the Heydon Park Ginseng Project ARSN 101 443 216, and the Heydon Park Ginseng Project No 2 ARSN 107 685 263. I therefore have power under s 601FN of the Corporations Act 2001 (Cth), or alternatively under regulation 5C.2.02 of the Corporations Regulations 2001 (Cth) to appoint a temporary responsible entity to each of those schemes. I am satisfied that Australian Hardwood Management Ltd has consented to being appointed as a temporary responsible entity. I am also satisfied that it is a public company that holds an Australian Financial Services Licence authorising it to operate these managed investment schemes. Furthermore, it is clear, in my view, that the interests of growers of the two projects would be furthered by the appointment of Australian Hardwood Management Ltd as their temporary responsible entity.

2. Accordingly, I order that:

   (i)Australian Hardwood Management Ltd be appointed the temporary responsible entity to the Heydon Park Ginseng Project ARSN 101 443 216.

   (ii)Australian Hardwood Management Ltd be appointed the temporary responsible entity to the Heydon Park Ginseng Project No 2 ARSN 107 685 263.

I certify that the preceding two (2) numbered paragraphs are a true copy of the Reasons for Judgment herein of the Honourable Justice Hely.

Associate:

Dated:             8 July 2005

Counsel for the Plaintiffs:	B M Antcliffe
Solicitor for the Plaintiffs:	Austin & Giugni Solicitors
Solicitor for the Defendant:	TressCox
Date of Hearing:	24 June 2005
Date of Judgment:	24 June 2005