Re ACN 059 849 017 Pty Ltd & The Corporations Law [1999] NSWSC 576

Re ACN 059 849 017 Pty Ltd & The Corporations Law [1999] NSWSC 576

The Court was satisfied that the director had leave to apply because the administrator's report provided a prima facie case of insolvency, that Pt 5.4 of the Corporations Law did not require a valid statutory demand as the exclusive route to winding up in insolvency, and that the invalid administration did not prevent Mr Lewis being appointed liquidator; accordingly the winding up orders were made, with substituted advertisement requirements.

Jurisdiction
Australia
Judgment Date
03 June 1999
Procedural Posture
Application to Wind Up a Company in Insolvency / Ex Parte Hearing of Summons
Outcome
Orders 1 to 4 in the summons made; prescribed advertisements dispensed with subject to publication of an advertisement in Form 154B mutatis mutandis in the prescribed newspaper within ten days.
Legal Topics
['winding Up in Insolvency' 'statutory Demand' 'leave for Director to Apply for Winding Up' 'appointment of Liquidator' 'advertisement of Winding Up Order']
['corporations Law' 'insolvency'] ['winding Up in Insolvency' 'statutory Demand' 'leave for Director to Apply for Winding Up' 'appointment of Liquidator' 'advertisement of Winding Up Order']

Case Brief

Summary, issues, holding and outcome

More case intelligence is available

Unlock the full research layer for this judgment.

Full judgment text Downloadable case file Legal principles 1 Authorities cited 2 Party arguments 1 Amounts and remedies 1
Sign in to unlock

Procedural Posture

Application to Wind Up a Company in Insolvency / Ex Parte Hearing of Summons

Legal Issues

  1. 1 ['Whether a director should be granted leave under s 459P of the Corporations Law to apply for winding up in insolvency.' 'Whether Pt 5.4 of the Corporations Law permits winding up in insolvency where no valid statutory demand has been served.' 'Whether advertisements prescribed by the Regulations should be dispensed with.']

Ratio Decidendi

The Court was satisfied that the director had leave to apply because the administrator's report provided a prima facie case of insolvency, that Pt 5.4 of the Corporations Law did not require a valid statutory demand as the exclusive route to winding up in insolvency, and that the invalid administration did not prevent Mr Lewis being appointed liquidator; accordingly the winding up orders were made, with substituted advertisement requirements.

Court Disposition

Orders 1 to 4 in the summons made; prescribed advertisements dispensed with subject to publication of an advertisement in Form 154B mutatis mutandis in the prescribed newspaper within ten days.

Orders

  • ['Orders 1 to 4 in the summons made.' 'All advertisements prescribed by the Regulations dispensed with, provided that an advertisement in Form 154B mutatis mutandis is published in the prescribed newspaper within ten days.']