McGrath and Anor re HIH Insurance Ltd and Ors

[2005] NSWSC 1087

CITATION:	McGrath & Anor re HIH Insurance Ltd & Ors [2005] NSWSC 1087 This decision has been amended. Please see the end of the judgment for a list of the amendments.
HEARING DATE(S):	11/10/05
JUDGMENT DATE :	26 October 2005
JURISDICTION:	Equity Division Corporations List
JUDGMENT OF:	Barrett J
DECISION:	See judgment

CATCHWORDS:	CORPORATIONS - winding up - application by liquidators for various orders
LEGISLATION CITED:	Corporations Act 2001 (Cth), s.477(2B)
CASES CITED:	McGrath re HIH Insurance Ltd [2005] NSWSC 731 McGrath & Anor re HIH Insurance Ltd & Ors [2005] NSWSC 787
PARTIES:	Anthony Gregory McGrath and Christopher John Honey in their capacity as liquidators of HIH Insurance Ltd & Ors - Applicants
FILE NUMBER(S):	SC 1799/01; 1805/01; 1808/01; 1810/01 ; 3753/02; 1798/01; 1800/01; 1801/01; 1803/01; 1804/01; 1806/01; 1807/01; 1809/01; 1811/01; 1812/01; 1813/01; 1814/01; 1815/01; 2650/01; 4727/01; 4913/01; 2601/02; 4096/02; 4098/02; 4472/02; 1348/03; 2419/03; 2421/03; 2422/03; 2423/03; 2424/03; 2425/03; 2426/03; 4227/03; 4229/03; 4231/03; 4232/03; 4233/03; 4235/03; 4236/03; 4237/03
COUNSEL:	Mr M.B. Oakes SC/Mr J. Scarcella, Solicitor - Applicants
SOLICITORS:	Blake Dawson Waldron - Applicants

LOWER COURT JURISDICTION:

IN THE SUPREME COURT
OF NEW SOUTH WALES
EQUITY DIVISION
CORPORATIONS LIST

BARRETT J

WEDNESDAY, 26 OCTOBER 2005

APPLICATIONS OF ANTHONY GREGORY McGRATH AND CHRISTOPHER JOHN HONEY IN THEIR CAPACITY AS LIQUIDATORS

OF EACH OF

1799/01 - HIH INSURANCE LTD
1805/01 - FAI INSURANCES LTD
1808/01 - FAI GENERAL INSURANCE CO LTD
1810/01 - HIH CASUALTY AND GENERAL INSURANCE LTD
3753/02 - HIH INVESTMENT HOLDINGS LTD
1798/01 - FAI TRADERS INSURANCE CO PTY LTD
1800/01 - WORLD MARINE AND GENERAL INSURANCES PTY LTD
1801/01 - HIH UNDERWRITING AND INSURANCE (AUS) PTY LTD
1803/01 - LANLEX NO. 65 PTY LTD
1804/01 - FAI LEASING FINANCE PTY LTD
1806/01 - CIC INSURANCE LTD.
1807/01 - FAI INVESTMENTS PTY LTD
1809/01 - FAI OVERSEAS INVESTMENTS PTY LTD
1811/01 - HIH OVERSEAS HOLDINGS LTD
1812/01 - FAI FINANCIAL SERVICES LTD
1813/01 - FAI OVERSEAS HOLDINGS PTY LTD
1814/01 - FAI REINSURANCES LTD
1815/01 - HIH UNDERWRITING AND AGENCY SERVICES LTD
2650/01 - HANNAN & CO PTY LTD
4727/01 - NOTESTIR PTY LTD
4913/01 - FIRST MENTOR GROUP PTY LTD
2601/02 - WORLDWIDE WEATHER UNDERWRITING AGENCIES (AUS) PTY LTD
4096/02 - HIH COMPANY LTD
4098/02 - ACN 006 495 987 PTY LTD (FORMERLY INDUSTRIAL REHABILITATION SERVICES PTY LTD)
4472/02 - CIC GENERAL INSURANCE HOLDINGS LTD
1348/03 - FAI HOME SECURITY HOLDING PTY LTD
2419/03 - ACN 005 312 345 PTY LTD (FORMERLY READY PLAN ASIA PACIFIC PTY LTD)
2421/03 - FAI FILM DISTRIBUTION PTY LTD
2422/03 - FAI WORKERS' COMPENSATION (VIC) PTY LTD
2423/03 - HIH (REAL ESTATE) PTY LTD
2424/03 - INTEGRATED COMMERCIAL FINANCE PTY LTD
2425/03 - INNES OWENS PTY LTD
2426/03 - RISKCORP AUSTRALIA PTY LTD
4227/03 - ACN 006 584 103 LTD (FORMERLY READY PLAN GROUP LTD)
4229/03 - MARINE AND AVIATION MANAGEMENT SERVICES LTD ACN 006 385 584
4231/03 - CIC WORKERS' COMPENSATION (NSW) LTD
4232/03 - CIC INVESTMENTS LTD ACN 004 766 081
4233/03 - PEMBROKE SECURITIES LTD ACN 002 799 546
4235/03 - LAKE CRACKENBACK RESORT PTY LTD ACN 003 379 708
4236/03 - 422 COLLINS STREET PTY LTD ACN 005 807 036
4237/03 - FAI FINANCE CORPORATION PTY LTD ACN 053 262 561

JUDGMENT

1 For separate reasons consisting of 23 paragraphs, a copy of which I now deliver to the applicants in the absence of the public, I will make the several orders claimed in the amended interlocutory processes filed on 11 October 2005, which amended interlocutory processes sought relief corresponding with and additional to that originally sought (see McGrath & Anor re HIH Insurance Ltd & Ors [2005] NSWSC 787).

2 Because the amended interlocutory processes were heard in the absence of the public (see McGrath re HIH Insurance Ltd [2005] NSWSC 731), I order that, until further order, the separate reasons a copy of which I now deliver to the applicants in the absence of the public remain in a sealed envelope in the court file and not be accessed by any person except with the leave of a judge and with 48 hours prior notice to Blake Dawson Waldron. I direct that those separate reasons not be posted on the Caselaw New South Wales website while the immediately preceding order remains in force.

3 I direct that the proceedings be listed before me for mention at 9.30 am on 26 June 2006 for the purpose of reviewing the continued appropriateness of the order and direction in paragraph 2 and the corresponding order and direction made on 4 August 2005.

**********

26/10/2005	-	One File Number left out of list on cover sheet - Paragraph(s) No paragraph number - File number left out of list on cover sheet
27/10/2005	-	Mr J. Scarcella added to counsel. - Paragraph(s) No paragraph. Addition to counsel on front sheet.