Thakran v TD TD Pty Ltd [2019] FCA 829

Thakran v TD TD Pty Ltd [2019] FCA 829

The plaintiff was a person aggrieved because, before deregistration, he had served an unsatisfied statutory demand and had a genuine grievance that deregistration caused a right of value or potential value to go out of existence. It was just to reinstate the company because ASIC-initiated deregistration did not weigh against reinstatement, ASIC did not oppose reinstatement subject to conditions, reinstatement had utility because liquidators could investigate possible assets with funding from the plaintiff, Ms Sharma's evidence of no assets and prejudice was vague and insufficient, and the public interest favoured bringing the company within the winding-up regime. Upon re-registration, the...

Jurisdiction
Australia
Judgment Date
28 May 2019
Procedural Posture
Application to Reinstate a Deregistered Company and Wind It Up in Insolvency / Final Orders Following Hearing
Outcome
Application allowed; the Third Defendant's registration was ordered to be reinstated and it was ordered to be wound up immediately upon re-registration.
Legal Topics
['reinstatement of Deregistered Company' 'person Aggrieved' 'statutory Demand' 'winding Up in Insolvency' 'appointment of Liquidators']
['corporations' 'corporate Insolvency'] ['reinstatement of Deregistered Company' 'person Aggrieved' 'statutory Demand' 'winding Up in Insolvency' 'appointment of Liquidators']

Case Brief

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Procedural Posture

Application to Reinstate a Deregistered Company and Wind It Up in Insolvency / Final Orders Following Hearing

Legal Issues

  1. 1 ['Whether the plaintiff was a person aggrieved by the deregistration of KNCR Sharma Family Nominees Pty Ltd.' 'Whether it was just to reinstate the registration of the deregistered company under s 601AH(2) of the Corporations Act 2001 (Cth).' 'Whether the company should be wound up immediately upon re-registration under the Corporations Act 2001 (Cth).']

Ratio Decidendi

The plaintiff was a person aggrieved because, before deregistration, he had served an unsatisfied statutory demand and had a genuine grievance that deregistration caused a right of value or potential value to go out of existence. It was just to reinstate the company because ASIC-initiated deregistration did not weigh against reinstatement, ASIC did not oppose reinstatement subject to conditions, reinstatement had utility because liquidators could investigate possible assets with funding from the plaintiff, Ms Sharma's evidence of no assets and prejudice was vague and insufficient, and the public interest favoured bringing the company within the winding-up regime. Upon re-registration, the...

Court Disposition

Application allowed; the Third Defendant's registration was ordered to be reinstated and it was ordered to be wound up immediately upon re-registration.

Orders

  • ['The Fourth Defendant (ASIC) reinstate the registration of the Third Defendant pursuant to s 601AH(2) of the Corporations Act 2001 (Cth).' 'Immediately upon re-registration, the Third Defendant be wound up under the Corporations Act 2001 (Cth).' 'Glenn Livingtsone and Phil Quinlan of Level 25, One International...