In the matter of Mazu Alliance Limited [2018] NSWSC 1482

In the matter of Mazu Alliance Limited [2018] NSWSC 1482

The defendant company failed to comply with a creditor's statutory demand and did not provide evidence to rebut the presumption of insolvency. The requirements for notice and publication were satisfied. Unreasonable conduct in pursuing a defence of solvency without evidence justified indemnity costs.

Jurisdiction
Australia
Judgment Date
29 March 2018
Procedural Posture
Winding Up Application / Principal Judgment
Outcome
The defendant be wound up in insolvency; costs awarded to plaintiffs on indemnity basis.
Legal Topics
['winding Up' "creditor's Statutory Demand" 'indemnity Costs']
['corporations Law' 'equity'] ['winding Up' "creditor's Statutory Demand" 'indemnity Costs']

Case Brief

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Procedural Posture

Winding Up Application / Principal Judgment

Legal Issues

  1. 1 ["Whether Defendant company should be wound up in insolvency based on failure to meet creditor's statutory demand" 'Whether costs should be ordered on an indemnity basis']

Ratio Decidendi

The defendant company failed to comply with a creditor's statutory demand and did not provide evidence to rebut the presumption of insolvency. The requirements for notice and publication were satisfied. Unreasonable conduct in pursuing a defence of solvency without evidence justified indemnity costs.

Court Disposition

The defendant be wound up in insolvency; costs awarded to plaintiffs on indemnity basis.

Orders

  • ['The Defendant, Mazu Alliance Limited ACN 077 226 183, be wound up in insolvency under the Corporations Act 2001 (Cth).' 'Mr Domenic Calabretta be appointed as liquidator of the Defendant.' "The Defendant pay the Plaintiffs' costs of and incidental to the winding up application on an indemnity basis."]