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Monday, 9 February 2015

Executive Summary (One Minute Read)
In the matter of Anglican Development Fund Diocese of Bathurst Board (recs and mgrs apptd) (NSWSC) - corporations - receivers granted leave to make interim distribution to creditors
Summaries With Link (Five Minute Read)
In the matter of Anglican Development Fund Diocese of Bathurst Board (recs and mgrs apptd) [2015] NSWSC 6
Supreme Court of New South Wales
Black J
Corporations - plaintiffs in capacity as receivers and managers sought permission to make interim distribution to creditors of fund in accordance with distribution schedule - receivers claimed submitted proof of debt lodged by bank reflected its judgment debt against fund, that bank’s proof of debt admitted; that issues remained to be resolved in respect of four other claimants and that receiver proposed to put aside sufficient funds to pay claimants whose proofs of debt were deferred if proofs ultimately admitted - ss12CA, 12CB, 12GF & 12GM Australian Securities and Investments Commission Act 2001 (Cth) - ss180, 181, 182, 420(1), 420(2), 420(2)(k), 423, 536, 1317H & 1321 Corporations Act 2001 (Cth) - held: Court satisfied receivers’ approach to identification of persons to whom interim distribution should be made or set aside pending adjudication of claims was appropriate - leave granted to make interim distribution subject to condition.
In the matter of Anglican Development Fund Diocese of Bathurst Board