Brenton Beef Processing Pty Ltd; Ex parte Jubilee Investments Pty Ltd [2004] FCA 319

Brenton Beef Processing Pty Ltd; Ex parte Jubilee Investments Pty Ltd [2004] FCA 319

The failure to lodge the notice of charge was inadvertent due to misunderstanding; the company is profitable with no outstanding creditors, and there is no liquidation threat, so extension is appropriate.

Parties
Applicant: Jubilee Investments Pty Ltd; Applicant: Oxford Exports Australia Pty Ltd; Respondent: Brenton Beef Processing Pty Ltd
Jurisdiction
Australia
Judgment Date
03 March 2004
Procedural Posture
Chambers Application / Order Granting Extension of Time
Outcome
extension of time granted
Legal Topics
Charge Registration, Extension of Time
Corporations Law Charge Registration Extension of Time

Case Brief

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Parties

Jubilee Investments Pty Ltd

Applicant

Oxford Exports Australia Pty Ltd

Applicant

Brenton Beef Processing Pty Ltd

Respondent

Procedural Posture

Chambers Application / Order Granting Extension of Time

Legal Issues

  1. 1 whether time for lodgement of Form 350 concerning a charge in favour of the applicants should be extended under s 266(4) of the Corporations Act 2001 (Cth)

Ratio Decidendi

The failure to lodge the notice of charge was inadvertent due to misunderstanding; the company is profitable with no outstanding creditors, and there is no liquidation threat, so extension is appropriate.

Court Disposition

extension of time granted

Orders

  • The time for lodgement with the Australian Securities and Investment Commission of the Form 350 concerning a charge in favour of the applicants is extended under s 266(4) of the Corporations Act 2001 (Cth) until 12 March 2004.
  • The lodgement of the Form 350 must be accompanied by a copy of this order.