In the matter of Stoligor Investments Pty Ltd [2012] NSWSC 1096

In the matter of Stoligor Investments Pty Ltd [2012] NSWSC 1096

Because the company failed to comply with the statutory demand, did not make a timely application to set it aside, and presented no affirmative evidence of solvency, and as no leave could be granted to oppose on previously available grounds under s 459S, a winding up order must be made.

Jurisdiction
Australia
Judgment Date
13 August 2012
Procedural Posture
Winding Up Application / Decision After Hearing
Outcome
Defendant ordered to be wound up; liquidator appointed; costs awarded to Plaintiff; orders stayed until 2pm on 28 August 2012.
Legal Topics
['winding Up' 'statutory Demand' 'insolvency' 'corporations Act 2001 (cth)']
['corporations Law'] ['winding Up' 'statutory Demand' 'insolvency' 'corporations Act 2001 (cth)']

Case Brief

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Procedural Posture

Winding Up Application / Decision After Hearing

Legal Issues

  1. 1 ['Whether the company should be wound up for failing to comply with a statutory demand' 'Whether leave should be granted to oppose the winding up application on grounds not previously raised in an application to set aside the demand' 'Whether the debt claimed is material to proving solvency']

Ratio Decidendi

Because the company failed to comply with the statutory demand, did not make a timely application to set it aside, and presented no affirmative evidence of solvency, and as no leave could be granted to oppose on previously available grounds under s 459S, a winding up order must be made.

Court Disposition

Defendant ordered to be wound up; liquidator appointed; costs awarded to Plaintiff; orders stayed until 2pm on 28 August 2012.

Orders

  • ['The Defendant, Stoligor Investments Pty Ltd, be wound up under the Corporations Act.' 'Christopher John Palmer be appointed liquidator of the Defendant.' "The Defendant pay the Plaintiff's costs of the proceedings, quantified in the amount of $6,114.80." 'These orders be stayed until 2pm on 28 August 2012.']