Grocon Constructors (Vic) Pty Ltd v Dexus Funds Management Limited as Trustee for the Dexus 480Q Trust [2019] FCA 1168

Grocon Constructors (Vic) Pty Ltd v Dexus Funds Management Limited as Trustee for the Dexus 480Q Trust [2019] FCA 1168

On balance, a short extension of 21 days from the date of the earlier order is appropriate to allow for the application for leave to appeal to be heard, preserving the status quo and avoiding nugatory appeal while addressing the interests of both parties.

Parties
Applicant: Grocon Constructors (Vic) Pty Ltd; Respondent: Dexus Funds Management Limited as Trustee for the Dexus 480Q Trust
Jurisdiction
Australia
Judgment Date
26 July 2019
Procedural Posture
Corporations – Interlocutory Application / Application for Extension of Time to Comply With Statutory Demand Pending Appeal
Outcome
Interlocutory application for extension of time granted in part, with a shorter extension than sought.
Legal Topics
Statutory Demand, Extension of Time, Leave to Appeal, Presumption of Insolvency
Corporations Law Insolvency Statutory Demand Extension of Time Leave to Appeal Presumption of Insolvency

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Parties

Grocon Constructors (Vic) Pty Ltd

Applicant

Dexus Funds Management Limited as Trustee for the Dexus 480Q Trust

Respondent

Procedural Posture

Corporations – Interlocutory Application / Application for Extension of Time to Comply With Statutory Demand Pending Appeal

Legal Issues

  1. 1 Whether time for compliance with a statutory demand should be extended pending determination of application for leave to appeal
  2. 2 Appropriate period for extension if at all granted

Ratio Decidendi

On balance, a short extension of 21 days from the date of the earlier order is appropriate to allow for the application for leave to appeal to be heard, preserving the status quo and avoiding nugatory appeal while addressing the interests of both parties.

Court Disposition

Interlocutory application for extension of time granted in part, with a shorter extension than sought.

Orders

  • Time for compliance with the statutory demand is extended until 21 days after 22 July 2019, or such other period as the Court orders.
  • Costs reserved.