Rosaub Pty Ltd [2005] NSWSC 689

Rosaub Pty Ltd [2005] NSWSC 689

The possible recovery under the HIH Claims Support Scheme was a beneficial purpose justifying deferral of deregistration, but s.509(6) required the court to specify a certain day for deregistration. A date calculated by reference to notification of acceptance of a future claim was uncertain and might never arrive, so the order could only specify the fixed date of 30 January 2007.

Jurisdiction
Australia
Judgment Date
13 July 2005
Procedural Posture
Application Under S.509(6) of the Corporations Act 2001 (cth) to Defer Deregistration Following a Creditors' Voluntary Winding Up / Originating Process in the Supreme Court of New South Wales, Equity Division, Corporations List
Outcome
Order made under s.509(6) deferring deregistration to 30 January 2007; contingent acceleration refused.
Legal Topics
['voluntary Winding Up' 'deregistration' "liquidator's Final Return" 'deferral of Deregistration' 'meaning of Specified Day Under S.509(6)']
['corporations Law'] ['voluntary Winding Up' 'deregistration' "liquidator's Final Return" 'deferral of Deregistration' 'meaning of Specified Day Under S.509(6)']

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Procedural Posture

Application Under S.509(6) of the Corporations Act 2001 (cth) to Defer Deregistration Following a Creditors' Voluntary Winding Up / Originating Process in the Supreme Court of New South Wales, Equity Division, Corporations List

Legal Issues

  1. 1 ['Whether deregistration of Rosaub Pty Limited should be deferred under s.509(6) of the Corporations Act 2001 (Cth).' 'Whether an order that deregistration occur 14 days after notification of acceptance of a claim under the HIH Claims Support Scheme would specify a day for the purposes of s.509(6).']

Ratio Decidendi

The possible recovery under the HIH Claims Support Scheme was a beneficial purpose justifying deferral of deregistration, but s.509(6) required the court to specify a certain day for deregistration. A date calculated by reference to notification of acceptance of a future claim was uncertain and might never arrive, so the order could only specify the fixed date of 30 January 2007.

Court Disposition

Order made under s.509(6) deferring deregistration to 30 January 2007; contingent acceleration refused.

Orders

  • ['Order pursuant to s.509(6) of the Corporations Act 2001 (Cth) that Australian Securities and Investments Commission deregister Rosaub Pty Limited on 30 January 2007.' 'Order that costs of the originating process be costs and expenses of the winding up of Rosaub Pty Limited.' 'Direct that these orders be entered...