In the Matter of Nahas Pty Ltd [2012] NSWSC 1295

In the Matter of Nahas Pty Ltd [2012] NSWSC 1295

The Deed of Variation did not remove the prefatory words of clause 6 of the Deed of Settlement, so the acceleration clause remained operative; accordingly, there was no genuine dispute, and the entirety of the sum in the statutory demand was due and payable.

Jurisdiction
Australia
Judgment Date
19 October 2012
Procedural Posture
Statutory Demand Dispute Under Corporations Act / Application to Set Aside Statutory Demand (final Decision)
Outcome
Originating process dismissed with costs assessed as indemnity costs
Legal Topics
["creditor's Statutory Demand" 'genuine Dispute' 'contractual Construction']
['corporations Law'] ["creditor's Statutory Demand" 'genuine Dispute' 'contractual Construction']

Case Brief

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Procedural Posture

Statutory Demand Dispute Under Corporations Act / Application to Set Aside Statutory Demand (final Decision)

Legal Issues

  1. 1 ['Whether there exists a genuine dispute in respect of the statutory demand' 'Whether the Deed of Variation altered the acceleration clause from the Deed of Settlement']

Ratio Decidendi

The Deed of Variation did not remove the prefatory words of clause 6 of the Deed of Settlement, so the acceleration clause remained operative; accordingly, there was no genuine dispute, and the entirety of the sum in the statutory demand was due and payable.

Court Disposition

Originating process dismissed with costs assessed as indemnity costs

Orders

  • ['Originating process dismissed' 'Costs fixed in the sum of $7,500 payable by the plaintiff to the defendant']