In the matter of Courtenay House Capital Trading Group Pty Ltd [2017] NSWSC 883

In the matter of Courtenay House Capital Trading Group Pty Ltd [2017] NSWSC 883

ASIC established sufficient grounds for winding up of First and Second Defendants on just and equitable ground, due to ongoing ASIC investigation, lack of confidence in management, possible breaches of Corporations Act including operation of unregistered investment schemes and offering financial services without proper authority, and risk to public; appointment of liquidators and ancillary orders warranted.

Jurisdiction
Australia
Judgment Date
16 May 2017
Procedural Posture
Corporations – Winding Up Application / Final Orders – Winding Up, Appointment of Liquidators, Ancillary Orders
Outcome
Order that First and Second Defendants be wound up; liquidators appointed; ancillary and asset preservation orders made/amended.
Legal Topics
['winding Up' 'just and Equitable Ground' 'asset Preservation' 'appointment of Liquidators']
['corporations'] ['winding Up' 'just and Equitable Ground' 'asset Preservation' 'appointment of Liquidators']

Case Brief

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Procedural Posture

Corporations – Winding Up Application / Final Orders – Winding Up, Appointment of Liquidators, Ancillary Orders

Legal Issues

  1. 1 ['Whether winding up orders should be made for the First and Second Defendants on the just and equitable ground' 'Whether asset preservation orders should be amended in light of liquidation' 'Appointment of independent insolvency practitioners to control assets']

Ratio Decidendi

ASIC established sufficient grounds for winding up of First and Second Defendants on just and equitable ground, due to ongoing ASIC investigation, lack of confidence in management, possible breaches of Corporations Act including operation of unregistered investment schemes and offering financial services without proper authority, and risk to public; appointment of liquidators and ancillary orders warranted.

Court Disposition

Order that First and Second Defendants be wound up; liquidators appointed; ancillary and asset preservation orders made/amended.

Orders

  • ['Order that Courtenay House Capital Trading Group Pty Ltd and Courtenay House Pty Ltd be wound up' 'Order that Messrs Jahani and McInerney of Grant Thornton be appointed as liquidators' 'Order amending asset preservation orders as they apply to First and Second Defendants' "Order providing exception to asset...