Farnow v Jazute Pty Ltd [2001] NSWSC 1158

There is a genuine dispute about whether the $312,500 advanced by the defendant was a loan or an equity investment, thus the statutory demand should be set aside.

Jurisdiction: Australia
Judgment Date: 13 December 2001
Procedural Posture: Application to Set Aside Statutory Demand / Final Determination
Outcome: Statutory demand set aside; costs awarded to plaintiff.
Legal Topics: ['statutory Demand' 'genuine Dispute' 'corporate Debt' 'jurisdiction']

['corporations Law'] ['statutory Demand' 'genuine Dispute' 'corporate Debt' 'jurisdiction']

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

Procedural Posture

Application to Set Aside Statutory Demand / Final Determination

Legal Issues

1 ['Whether there is jurisdiction to hear the application under s 459G' 'Whether there exists a genuine dispute about the debt claimed in the statutory demand']

Ratio Decidendi

There is a genuine dispute about whether the $312,500 advanced by the defendant was a loan or an equity investment, thus the statutory demand should be set aside.

Court Disposition

Statutory demand set aside; costs awarded to plaintiff.

Orders

['The statutory demand dated 25 May 2001 served by the defendant on the plaintiff be set aside.' 'The defendant to pay the plaintiff’s costs.' 'Exhibits may be returned.']