Re SC Aust (In Liq) & SC Equipment (In Liq) [1999] NSWSC 176

Re SC Aust (In Liq) & SC Equipment (In Liq) [1999] NSWSC 176

The statutory power under s 509(6) was available, the administration had effectively been finalised, ASIC did not oppose the application, creditors had approved it, and the evidence showed that refusing an earlier deregistration date would cause the six Japanese banks financial loss for no particular reason; accordingly this was a clear case for making the order.

Jurisdiction
Australia
Judgment Date
01 March 1999
Procedural Posture
Application Under S 509(6) of the Corporations Law for Deregistration After Winding Up / Ex Parte Application
Outcome
Order made specifying deregistration day.
Legal Topics
['company Deregistration After Winding Up' 'liquidation' 'court Power to Specify Deregistration Day']
['corporations Law'] ['company Deregistration After Winding Up' 'liquidation' 'court Power to Specify Deregistration Day']

Case Brief

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Procedural Posture

Application Under S 509(6) of the Corporations Law for Deregistration After Winding Up / Ex Parte Application

Legal Issues

  1. 1 ['Whether the Court should order ASIC to deregister SC Australia Pty Ltd (in liquidation) and SC Equipment Pty Ltd (in liquidation) on 7 March 1999 rather than after the ordinary three month period following lodgment of final returns.' 'Whether the evidence of financial loss to the six Japanese banks justified specifying an earlier deregistration day under s 509(6) of the Corporations Law.']

Ratio Decidendi

The statutory power under s 509(6) was available, the administration had effectively been finalised, ASIC did not oppose the application, creditors had approved it, and the evidence showed that refusing an earlier deregistration date would cause the six Japanese banks financial loss for no particular reason; accordingly this was a clear case for making the order.

Court Disposition

Order made specifying deregistration day.

Orders

  • ['Orders 1 to 4 in the short minutes were made.' 'SC Australia Pty Ltd (in liquidation) and SC Equipment Pty Ltd (in liquidation) were to be deregistered by ASIC on 7 March 1999.']