Aquatown Pty Ltd v Holder Stroud Pty Ltd [1996] FCA 532

Aquatown Pty Ltd v Holder Stroud Pty Ltd [1996] FCA 532

There was a genuine dispute as to the existence and amount of the debt and a genuine offsetting claim; the substantiated amount owing is less than the statutory minimum required for a statutory demand; accordingly, the demand must be set aside.

Parties
Applicant: Aquatown Pty Limited; Respondent: Holder Stroud Pty Limited
Jurisdiction
Australia
Judgment Date
25 June 1996
Procedural Posture
Application to Set Aside Statutory Demand / Final Judgment
Outcome
Application allowed. Statutory demand set aside. Costs awarded to applicant.
Legal Topics
Statutory Demand, Genuine Dispute, Offsetting Claim, Winding Up, Costs Order
Corporate Insolvency Law Statutory Demand Genuine Dispute Offsetting Claim Winding Up Costs Order

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Parties

Aquatown Pty Limited

Applicant

Holder Stroud Pty Limited

Respondent

Procedural Posture

Application to Set Aside Statutory Demand / Final Judgment

Legal Issues

  1. 1 Whether the statutory demand should be set aside under section 459G of the Corporations Law
  2. 2 Whether there is a genuine dispute as to the existence or amount of the debt
  3. 3 Whether there is a genuine offsetting claim

Ratio Decidendi

There was a genuine dispute as to the existence and amount of the debt and a genuine offsetting claim; the substantiated amount owing is less than the statutory minimum required for a statutory demand; accordingly, the demand must be set aside.

Court Disposition

Application allowed. Statutory demand set aside. Costs awarded to applicant.

Orders

  • Statutory demand dated 1 September 1995 and served 11 September 1995 be set aside.
  • Respondent pay applicant's costs.