In the matter of Wyse & Young International Pty Ltd [2019] NSWSC 944

In the matter of Wyse & Young International Pty Ltd [2019] NSWSC 944

The stay of the winding up order is lifted because its original rationale has lapsed and no further evidentiary basis for its continuation was established; the winding up in insolvency and appointment of liquidator now takes immediate effect.

Jurisdiction
Australia
Judgment Date
15 July 2019
Procedural Posture
Corporations Winding Up / Application to Terminate or Continue Stay of Winding Up Order
Outcome
The stay of the winding up order is lifted; Defendant company wound up in insolvency; liquidator appointed; Plaintiff's costs are costs in the winding up.
Legal Topics
['winding Up' 'stay of Order' 'termination of Winding Up' 'solvency Evidence']
['corporations'] ['winding Up' 'stay of Order' 'termination of Winding Up' 'solvency Evidence']

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Procedural Posture

Corporations Winding Up / Application to Terminate or Continue Stay of Winding Up Order

Legal Issues

  1. 1 ['Whether the stay of the operation of the winding up order should be lifted' 'Whether evidence of solvency or satisfaction of creditor’s claim justified continuation of stay']

Ratio Decidendi

The stay of the winding up order is lifted because its original rationale has lapsed and no further evidentiary basis for its continuation was established; the winding up in insolvency and appointment of liquidator now takes immediate effect.

Court Disposition

The stay of the winding up order is lifted; Defendant company wound up in insolvency; liquidator appointed; Plaintiff's costs are costs in the winding up.

Orders

  • ['The stay of the winding up order made by Brereton J on 13 July 2017 cease to have effect immediately.' 'Note that the Defendant, Wyse & Young International Pty Ltd, is wound up in insolvency and Mr Lo Pilato is appointed as its liquidator pursuant to the orders made by Brereton J on 13 July 2017, with effect from...