GE Commercial Corporation (Australia) Pty Limited v Jayrow Helicopters Pty Limited [2007] FCA 427

GE Commercial Corporation (Australia) Pty Limited v Jayrow Helicopters Pty Limited [2007] FCA 427

The Court extended the time for lodgement because the failure to lodge the notice was accidental or due to inadvertence, the defendants consented, neither defendant was under or contemplating external administration, each defendant was solvent, and regularisation should not prejudice creditors.

Jurisdiction
Australia
Judgment Date
26 March 2007
Procedural Posture
Application Pursuant to S 266(4) of the Corporations Act 2001 (cth) for Extension of Time to Lodge a Charge With ASIC / Reasons for Judgment and Order
Outcome
Application granted; no order as to costs.
Legal Topics
['registration of Company Charges' 'extension of Time to Lodge Notice of Charge With Asic' 'accidental or Inadvertent Failure to Lodge' 'solvency and Creditor Prejudice' 'costs']
['corporations Law'] ['registration of Company Charges' 'extension of Time to Lodge Notice of Charge With Asic' 'accidental or Inadvertent Failure to Lodge' 'solvency and Creditor Prejudice' 'costs']

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Procedural Posture

Application Pursuant to S 266(4) of the Corporations Act 2001 (cth) for Extension of Time to Lodge a Charge With ASIC / Reasons for Judgment and Order

Legal Issues

  1. 1 ['Whether the period for lodging a charge dated 19 July 2006 with ASIC should be extended to 18 September 2006 under s 266(4) of the Corporations Act 2001 (Cth).' 'Whether the failure to lodge the notice by 2 September 2006 was accidental or due to inadvertence.' 'Whether the defendants were solvent and whether regularisation would prejudice creditors.' "Whether any order should be made as to the defendants' costs of the application."]

Ratio Decidendi

The Court extended the time for lodgement because the failure to lodge the notice was accidental or due to inadvertence, the defendants consented, neither defendant was under or contemplating external administration, each defendant was solvent, and regularisation should not prejudice creditors.

Court Disposition

Application granted; no order as to costs.

Orders

  • ['The period for lodging a charge dated 19 July 2006 granted by the defendants to the plaintiffs with the Australian Securities and Investments Commission be extended to 18 September 2006.' 'There will be no order as to costs.']