In the Matter of Enviro Energy Australia Pty Ltd (in liquidation) [2010] NSWSC 1222

In the Matter of Enviro Energy Australia Pty Ltd (in liquidation) [2010] NSWSC 1222

The application was dismissed because the applicant failed to establish the company's solvency, did not furnish reliable and corroborated evidence of the company's financial position, failed to comply with statutory obligations, did not show that returning stewardship to him was in the public interest or commercial morality, and had delayed and conducted the application in a delinquent manner justifying indemnity costs.

Parties
Applicant: Michael Ayoub; 1st Respondent: Chief Commissioner of State Revenue; 2nd Respondent: Bruce Gleeson (Liquidator of defendant); Interested Party: Perpetual Trustee Company Limited; Interested Party: Challenger Managed Investments Limited
Jurisdiction
Australia
Judgment Date
23 September 2010
Procedural Posture
Corporations Interlocutory Application to Stay or Terminate Winding Up / Judgment Following Hearing of Interlocutory Application Under Corporations Act 2001 (cth) S 482
Outcome
Application dismissed; costs orders made against applicant.
Legal Topics
Stay or Termination of Winding Up, Solvency, Public Interest, Commercial Morality, Costs
Corporations Stay or Termination of Winding Up Solvency Public Interest Commercial Morality Costs

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Parties

Michael Ayoub

Applicant

Chief Commissioner of State Revenue

1st Respondent

Bruce Gleeson (Liquidator of defendant)

2nd Respondent

Perpetual Trustee Company Limited

Interested Party

Challenger Managed Investments Limited

Interested Party

Procedural Posture

Corporations Interlocutory Application to Stay or Terminate Winding Up / Judgment Following Hearing of Interlocutory Application Under Corporations Act 2001 (cth) S 482

Legal Issues

  1. 1 Whether the winding-up of Enviro Energy Australia Pty Ltd (in liquidation) should be stayed or terminated under s 482 of the Corporations Act 2001 (Cth)
  2. 2 Whether the applicant discharged the onus to establish the company's solvency
  3. 3 Whether it is in the public interest or interests of commercial morality to restore control to the applicant

Ratio Decidendi

The application was dismissed because the applicant failed to establish the company's solvency, did not furnish reliable and corroborated evidence of the company's financial position, failed to comply with statutory obligations, did not show that returning stewardship to him was in the public interest or commercial morality, and had delayed and conducted the application in a delinquent manner justifying indemnity costs.

Court Disposition

Application dismissed; costs orders made against applicant.

Orders

  • Order that the interlocutory process filed on 8 April 2010 be dismissed.
  • Order that the applicant pay the costs of the second respondent and the liquidator on the indemnity basis.