Grundy Organisation Pty Ltd [2010] NSWSC 1432

Grundy Organisation Pty Ltd [2010] NSWSC 1432

Despite procedural irregularities relating to the special resolution to wind up the company and an irregular dividend payment, no substantial injustice was caused. All parties acted honestly and outcomes were consistent with the proper conduct of the winding up. Therefore, curative orders may be granted under s 1322(4) of the Corporations Act 2001 (Cth).

Parties
Plaintiffs: Martin John Green and Peter Paul Krejci as liquidators of Grundy Organisation Pty Ltd
Jurisdiction
Australia
Judgment Date
09 December 2010
Procedural Posture
Application for Curative Orders in Voluntary Winding Up / Judgment
Outcome
Curative orders made
Legal Topics
Members Voluntary Winding Up, Procedural Irregularities, Curative Orders
Corporations Members Voluntary Winding Up Procedural Irregularities Curative Orders

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Parties

Martin John Green and Peter Paul Krejci as liquidators of Grundy Organisation Pty Ltd

Plaintiffs

Procedural Posture

Application for Curative Orders in Voluntary Winding Up / Judgment

Legal Issues

  1. 1 Whether procedural irregularities in the members voluntary winding up of Grundy Organisation Pty Ltd in 1998 and subsequent dividend payment in 2004 should be cured under s 1322(4) of the Corporations Act 2001 (Cth)

Ratio Decidendi

Despite procedural irregularities relating to the special resolution to wind up the company and an irregular dividend payment, no substantial injustice was caused. All parties acted honestly and outcomes were consistent with the proper conduct of the winding up. Therefore, curative orders may be granted under s 1322(4) of the Corporations Act 2001 (Cth).

Court Disposition

Curative orders made

Orders

  • Orders made under s 1322(4)(a) and s 1322(4)(c) of the Corporations Act 2001 (Cth) in relation to the purported special resolution of 1998 and the 2004 distribution.