Workers Compensation Nominal Insurer v Cladtrans Pty Ltd, in the matter of Cladtrans Pty Ltd [2013] FCA 996

Workers Compensation Nominal Insurer v Cladtrans Pty Ltd, in the matter of Cladtrans Pty Ltd [2013] FCA 996

On the evidence, Cladtrans Pty Ltd is solvent and has sufficient funds to pay all known creditors and liabilities; the court is satisfied to exercise its discretion to terminate the winding up pursuant to s 482(1) of the Corporations Act 2001 (Cth).

Jurisdiction
Australia
Judgment Date
25 September 2013
Procedural Posture
Application to Terminate Winding Up / Judgment (termination of Liquidation)
Outcome
winding up terminated
Legal Topics
['termination of Winding Up' 'solvency' 'payment of Creditors' "liquidator's Remuneration" 'costs of Application']
['corporations Law'] ['termination of Winding Up' 'solvency' 'payment of Creditors' "liquidator's Remuneration" 'costs of Application']

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Procedural Posture

Application to Terminate Winding Up / Judgment (termination of Liquidation)

Legal Issues

  1. 1 ["Whether the court should terminate the winding up of Cladtrans Pty Ltd on evidence of solvency and proposals to pay creditors, liquidator's remuneration, and application costs."]

Ratio Decidendi

On the evidence, Cladtrans Pty Ltd is solvent and has sufficient funds to pay all known creditors and liabilities; the court is satisfied to exercise its discretion to terminate the winding up pursuant to s 482(1) of the Corporations Act 2001 (Cth).

Court Disposition

winding up terminated

Orders

  • ["Proceeds of defendant's bank account to liquidator for payment of specified debts" "Liquidator's costs of application to be paid by defendant within 28 days" "Plaintiff's costs of application fixed at $1,100 inclusive of GST, to be paid by defendant within 28 days" 'Liquidation of defendant terminated at 5.00 pm...