Kala Capital Pty Limited [2011] NSWSC 1253

Kala Capital Pty Limited [2011] NSWSC 1253

The company, by special resolution of its sole member, resolved to be wound up and the circumstances, including lack of access to records and non-compliance with residency requirements, make it just and equitable to wind up the company; no reason appears for withholding the order.

Parties
Plaintiff: Kala Capital Pty Limited
Jurisdiction
Australia
Judgment Date
24 October 2011
Procedural Posture
Corporations – Winding Up Application / Judgment – Orders Made
Outcome
Order for winding up. Appointment of liquidator.
Legal Topics
Winding Up on Just and Equitable Ground, Special Resolution for Winding Up, Director’s Duties, Company Records, Sole Director Residency
Corporations Law Winding Up on Just and Equitable Ground Special Resolution for Winding Up Director’s Duties Company Records Sole Director Residency

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Parties

Kala Capital Pty Limited

Plaintiff

Procedural Posture

Corporations – Winding Up Application / Judgment – Orders Made

Legal Issues

  1. 1 Whether the company should be wound up pursuant to a special resolution under s 461(1)(a) of the Corporations Act 2001 (Cth)
  2. 2 Whether it is just and equitable to wind up the company under s 461(1)(k) of the Corporations Act 2001 (Cth)

Ratio Decidendi

The company, by special resolution of its sole member, resolved to be wound up and the circumstances, including lack of access to records and non-compliance with residency requirements, make it just and equitable to wind up the company; no reason appears for withholding the order.

Court Disposition

Order for winding up. Appointment of liquidator.

Orders

  • Order that Kala Capital Pty Limited be wound up.
  • Order that Mr Condon be appointed liquidator.