In the matter of Parkmeng Pty Ltd [2024] NSWSC 157

The requirements under the Corporations Act and Rules were satisfied, a presumption of insolvency arose due to Parkmeng's non-compliance with the creditor's statutory demand, and Parkmeng failed to rebut that presumption; therefore, an order for winding up was justified.

Jurisdiction: Australia
Judgment Date: 13 February 2024
Procedural Posture: Winding Up Application / Judgment and Orders
Outcome: Order made that Parkmeng Pty Ltd be wound up; costs awarded as sought.
Legal Topics: ['winding Up' 'statutory Demand' 'presumption of Insolvency' 'substituted Creditor' 'service of Documents']

['corporations Law' 'insolvency'] ['winding Up' 'statutory Demand' 'presumption of Insolvency' 'substituted Creditor' 'service of Documents']

Case Brief

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Procedural Posture

Winding Up Application / Judgment and Orders

Legal Issues

1 ['Whether Parkmeng Pty Ltd should be wound up due to insolvency.' "Whether service of the creditor's statutory demand was effective." "Whether BECL as substituted creditor can rely upon the presumption of insolvency arising from a failure to comply with the creditor's statutory demand."]

Ratio Decidendi

Court Disposition

Order made that Parkmeng Pty Ltd be wound up; costs awarded as sought.

Orders

['That Parkmeng Pty Ltd be wound up.' 'That the nominated liquidators be appointed.' "That BECL's costs be fixed at $6,089, payable as costs in the winding up."]