In the matter of R & S Trading Company Pty Limited (in liquidation) [2015] NSWSC 1712

In the matter of R & S Trading Company Pty Limited (in liquidation) [2015] NSWSC 1712

On balance, the evidence supported that the Company was solvent, debts (except superannuation) had been paid or arrangements made, an undertaking was provided to support its financial position, and the liquidator did not oppose; thus the winding up ought to be terminated, subject to ASIC being notified and liberty to apply reserved.

Jurisdiction
Australia
Judgment Date
13 July 2015
Procedural Posture
Application Under S 482 of Corporations Act 2001 (cth) / Hearing and Decision on Application to Terminate Winding Up
Outcome
Winding up of R & S Trading Company Pty Limited (in liquidation) terminated, subject to orders.
Legal Topics
['termination of Winding Up' 'company Solvency' 'applications Under S 482 Corporations Act']
['corporations Law'] ['termination of Winding Up' 'company Solvency' 'applications Under S 482 Corporations Act']

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Procedural Posture

Application Under S 482 of Corporations Act 2001 (cth) / Hearing and Decision on Application to Terminate Winding Up

Legal Issues

  1. 1 ['Whether winding up of R & S Trading Company Pty Limited (in liquidation) should be terminated under s 482 of the Corporations Act 2001 (Cth)']

Ratio Decidendi

On balance, the evidence supported that the Company was solvent, debts (except superannuation) had been paid or arrangements made, an undertaking was provided to support its financial position, and the liquidator did not oppose; thus the winding up ought to be terminated, subject to ASIC being notified and liberty to apply reserved.

Court Disposition

Winding up of R & S Trading Company Pty Limited (in liquidation) terminated, subject to orders.

Orders

  • ['Orders in accordance with short minutes of order initialled by the judge and placed on file, amended to provide for service of relevant affidavits on the Australian Securities and Investments Commission and reserve liberty to ASIC to apply to set aside order within fourteen days.']