In the matter of Blueclay Pty Limited [2014] NSWSC 1903

In the matter of Blueclay Pty Limited [2014] NSWSC 1903

The winding-up was terminated as the company had paid all debts, was likely to remain solvent for the foreseeable future, the former director had supported and continued to support the company, and neither the creditors nor the liquidator opposed reinstatement.

Jurisdiction
Australia
Judgment Date
10 November 2014
Procedural Posture
Corporations Winding Up / Application for Termination of Winding Up
Outcome
Winding up terminated
Legal Topics
['winding Up' 'termination']
['corporations'] ['winding Up' 'termination']

Case Brief

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Procedural Posture

Corporations Winding Up / Application for Termination of Winding Up

Legal Issues

  1. 1 ['Whether the state of affairs requiring winding up no longer exists' 'Whether the company is likely to remain solvent' 'Whether it is reasonable to restore control to previous management']

Ratio Decidendi

The winding-up was terminated as the company had paid all debts, was likely to remain solvent for the foreseeable future, the former director had supported and continued to support the company, and neither the creditors nor the liquidator opposed reinstatement.

Court Disposition

Winding up terminated

Orders

  • ['The winding-up of Blueclay Pty Ltd (in liquidation) ACN 110 290 125 is terminated with effect from 10 November 2014.' 'This order is to be entered forthwith.']