Land & National Development Corporation v Tatebrook Pty Ltd [1999] NSWCA 280

Land & National Development Corporation v Tatebrook Pty Ltd [1999] NSWCA 280

The Court extended the time for compliance with the statutory demand because a Judge of Appeal had power to make the order and, although the applicant's argument based on the Summary of Current Status had insufficient prospects, its argument based on the respondent's conduct on 3 December 1997 was sufficiently...

Source-derived case information.

Jurisdiction
Australia
Judgment Date
02 August 1999
Procedural Posture
Application for Extension of Time for Compliance With Statutory Demand / Court of Appeal Application Pending Application for Leave to Appeal
Outcome
Time for compliance with the statutory demand extended; costs reserved with a conditional costs order if the leave application is discontinued.
Legal Topics
['statutory Demand' 'extension of Time for Compliance' 'application for Leave to Appeal' 'waiver' 'estoppel']
['corporations Law' 'insolvency' 'appellate Procedure'] ['statutory Demand' 'extension of Time for Compliance' 'application for Leave to Appeal' 'waiver' 'estoppel']

Source-derived case record

Summary, issues, holding and outcome

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Procedural Posture

Application for Extension of Time for Compliance With Statutory Demand / Court of Appeal Application Pending Application for Leave to Appeal

Legal Issues

  1. 1 ['Whether a Judge of Appeal had power to extend the time for compliance with the statutory demand.' "Whether the time for compliance with the statutory demand should be further extended pending the hearing of the applicant's application for leave to appeal." 'Whether the applicant had a sufficiently arguable basis, founded on waiver or estoppel, for not complying with the statutory demand to justify preserving the status quo.']

Ratio Decidendi

The Court extended the time for compliance with the statutory demand because a Judge of Appeal had power to make the order and, although the applicant's argument based on the Summary of Current Status had insufficient prospects, its argument based on the respondent's conduct on 3 December 1997 was sufficiently arguable that the status quo should be preserved until the application for leave to appeal was heard, subject to undertakings protecting the respondent and requiring expedition.

Court Disposition

Time for compliance with the statutory demand extended; costs reserved with a conditional costs order if the leave application is discontinued.

Orders

  • ['Pursuant to subs 459F(2)(a)(i) of the Corporations Law of NSW, the time for compliance with the statutory demand the subject of these proceedings is extended for 14 days.' "Subject to the undertakings referred to in the judgment being made to the Court by the applicant in an affidavit sworn by a director of the...