Basto, In the Matter of Torsif Pty Ltd [2003] FCA 675

Basto, In the Matter of Torsif Pty Ltd [2003] FCA 675

The plaintiff failed to establish that he was a 'person aggrieved' under s 601AH(2) of the Corporations Act 2001 (Cth), as there was no evidence of recoverable assets or benefit to shareholders or creditors upon reinstatement; even if he qualified, it would not be just to reinstate the company given the lack of demonstrated benefit and the risk of further liabilities.

Parties
Plaintiff: Richard J Basto; Amicus Curiae: ASIC (Australian Securities and Investments Commission)
Jurisdiction
Australia
Judgment Date
04 July 2003
Procedural Posture
Corporations – Application for Reinstatement of Company / Final Judgment
Outcome
Application dismissed
Legal Topics
Reinstatement of Company, Persons Aggrieved, Deregistration of Company, Shareholder Rights
Corporations Law Reinstatement of Company Persons Aggrieved Deregistration of Company Shareholder Rights

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Parties

Richard J Basto

Plaintiff

ASIC (Australian Securities and Investments Commission)

Amicus Curiae

Procedural Posture

Corporations – Application for Reinstatement of Company / Final Judgment

Legal Issues

  1. 1 Whether the plaintiff is a 'person aggrieved' for the purposes of s 601AH(2) of the Corporations Act 2001 (Cth)
  2. 2 Whether it is just that the registration of Torsif Pty Ltd be reinstated

Ratio Decidendi

The plaintiff failed to establish that he was a 'person aggrieved' under s 601AH(2) of the Corporations Act 2001 (Cth), as there was no evidence of recoverable assets or benefit to shareholders or creditors upon reinstatement; even if he qualified, it would not be just to reinstate the company given the lack of demonstrated benefit and the risk of further liabilities.

Court Disposition

Application dismissed

Orders

  • The application be dismissed.