Evans & Tate Premium Wines Pty Ltd v Australian Beverage Distributors Pty Ltd [2005] NSWSC 186

Evans & Tate Premium Wines Pty Ltd v Australian Beverage Distributors Pty Ltd [2005] NSWSC 186

The defendant proved it was solvent at the relevant time by demonstrating readily realisable assets in excess of liabilities, verified by credible expert evidence. The plaintiff's Originating Process for winding up was dismissed as the presumption of insolvency was rebutted.

Jurisdiction
Australia
Judgment Date
15 March 2005
Procedural Posture
Originating Process Winding Up Application / Hearing and Judgment
Outcome
Originating Process dismissed
Legal Topics
['winding Up' 'solvency' 'statutory Demands' 'just and Equitable Ground']
['corporations'] ['winding Up' 'solvency' 'statutory Demands' 'just and Equitable Ground']

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 2 Amounts and remedies 1
Sign in to unlock

Procedural Posture

Originating Process Winding Up Application / Hearing and Judgment

Legal Issues

  1. 1 ['Whether the defendant has proven solvency to rebut the presumption of insolvency arising from failure to comply with a statutory demand' "Whether the plaintiff may rely on the 'just and equitable' ground (s.461(1)(k) Corporations Act) at hearing when facts supporting that ground were not notified to the defendant"]

Ratio Decidendi

The defendant proved it was solvent at the relevant time by demonstrating readily realisable assets in excess of liabilities, verified by credible expert evidence. The plaintiff's Originating Process for winding up was dismissed as the presumption of insolvency was rebutted.

Court Disposition

Originating Process dismissed

Orders

  • ['Application for winding up dismissed' 'Question of costs reserved to be heard']