Fouracre v Ultra Protective Coatings [2004] NSWSC 157

Fouracre v Ultra Protective Coatings [2004] NSWSC 157

The application fails because no timely application was made to set aside the statutory demand, there is insufficient material to rebut the statutory presumption of insolvency, and no manifest error in the Registrar's decision is shown. The company remains under winding up order and the defendant, now in liquidation, must pay costs.

Parties
Plaintiff: Darren Andrew Fouracre; Defendant: Ultra Protective Coatings Pty Ltd
Jurisdiction
Australia
Judgment Date
02 March 2004
Procedural Posture
Corporations Winding Up / Post Winding Up Order; Application to Set Aside or Review Registrar's Decision
Outcome
Application dismissed with costs
Legal Topics
Liquidation, Statutory Demand, Solvency, Winding Up Order, Review of Registrar's Decision
Corporations Equity Liquidation Statutory Demand Solvency Winding Up Order Review of Registrar's Decision

Case Brief

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Parties

Darren Andrew Fouracre

Plaintiff

Ultra Protective Coatings Pty Ltd

Defendant

Procedural Posture

Corporations Winding Up / Post Winding Up Order; Application to Set Aside or Review Registrar's Decision

Legal Issues

  1. 1 Whether the company is solvent
  2. 2 Whether winding up order and statutory demand should be set aside
  3. 3 Whether application is timely under statutory requirements

Ratio Decidendi

The application fails because no timely application was made to set aside the statutory demand, there is insufficient material to rebut the statutory presumption of insolvency, and no manifest error in the Registrar's decision is shown. The company remains under winding up order and the defendant, now in liquidation, must pay costs.

Court Disposition

Application dismissed with costs

Orders

  • Application dismissed
  • Defendant (in liquidation) to pay Plaintiff's costs of the application