Thomas International Ltd v Humantech Pty Ltd [2015] FCA 1333

Thomas International Ltd v Humantech Pty Ltd [2015] FCA 1333

Each Deed company was found to be insolvent as their liabilities far exceeded their assets, and there was no evidence of receivables being collectable or of substantive income; therefore, court ordered winding up in insolvency and appointed the administrators as liquidators.

Jurisdiction
Australia
Judgment Date
09 November 2015
Procedural Posture
Corporate Insolvency Application / Application for Winding Up in Insolvency
Outcome
Winding up orders made in insolvency for all Deed companies; administrators appointed as liquidators; application for adjournment rejected.
Legal Topics
['deed of Company Arrangement' "administrators' Liability" 'liquidation' 'winding Up Proceedings']
['corporate Insolvency'] ['deed of Company Arrangement' "administrators' Liability" 'liquidation' 'winding Up Proceedings']

Case Brief

Summary, issues, holding and outcome

More case intelligence is available

Unlock the full research layer for this judgment.

Full judgment text Downloadable case file Legal principles 1 Authorities cited 2 Party arguments 2 Amounts and remedies 1
Sign in to unlock

Procedural Posture

Corporate Insolvency Application / Application for Winding Up in Insolvency

Legal Issues

  1. 1 ['Whether each Deed company was insolvent and should be wound up in insolvency under the Corporations Act 2001 (Cth)' 'Whether the administrators could be compelled to continue trading and incurring liabilities' 'Whether notices and procedural steps should be dispensed with in winding up']

Ratio Decidendi

Each Deed company was found to be insolvent as their liabilities far exceeded their assets, and there was no evidence of receivables being collectable or of substantive income; therefore, court ordered winding up in insolvency and appointed the administrators as liquidators.

Court Disposition

Winding up orders made in insolvency for all Deed companies; administrators appointed as liquidators; application for adjournment rejected.

Orders

  • ['The first defendant be wound up in insolvency under the Corporations Act 2001 (Cth).' 'Antony de Vries and David Solomons be appointed joint and several liquidators of the first defendant.' 'The second defendant be wound up in insolvency under the Corporations Act 2001 (Cth).' 'Antony de Vries and David Solomons...