Australco Industries P/L v. Weinstock, D.I. & Ors [1994] FCA 966

JUDGMENT No. snd 6 Gy Zt

T WoO N}

CORPORATIONS - hquidation - debt owed by liquidated company with no assets - whether directors liable for payment of debt - whether there were reasonable grounds

to expect that the company would be able to pay its debts - no point of principle.

Corporations Law, s.592(1)

CONS ONS PTY LI D

(IN. LIQUIDATION) ACN 002 728 172

STRIES PTY LI D v DANIEL IS

G V, POO and WILLIAM ERIC COPP NG 3288 of 1993

Davies J Sydney 13 December 1994

RECEIVED 13 DEC 1994

FEDERAL COURT OF AUSTRALIA

PRINCIPAL REGISTRY

IN THE FEDERAL COURT OF AUSTRALIA) W. W, GI. NG 3288 of 1993 ) GENERAL DIVISION ) INTHE MATTER OF XABE CONSTRUCTIONS PTY LIMITED (IN LIQUIDATION)

(ACN 002 728 172)

BETWEEN: AUS CO INDUST. (ACN 003 974 007)

Applicant AND: DANIEL ISAAC WEINSTOCK

First Respondent

Y_V. oO Y

Second Respondent

WILLIAM ERIC COPP

Third Respondent Coram: Davies J

Date: 13 December 1994 Place: Sydney UTES O R IHE COURT ORDERS THAT: 1. There be judgment for the applicant against the respondents in the sum of $68,509.50.

2. The respondents pay the applicant's costs of the proceedings.

NOTE: Settlement and entry of orders is dealt with in Order 36 of the Federal Court Rules.

INTHE FEDERAL COURT OF AUSTRALIA )

) W W, GIS )} NG 3288 of 1993

)

GENERAL DIVISION )

IN THE MATTER OF

YABE CONSTRUCTIONS PTY LIMITED

CN_LIOUIDATION)

(ACN 002 728 172)

BETWEEN: AUSTRALCO INDUSTRIES PTY LIMITED (ACN 003 974 007)

Applicant

AND: DANIEL ISAAC WEINSTOCK

First Respondent

ORY V, P

Second Respondent

W. IC

Third Respondent

Coram: Davies J Date: 13 December 1994 Place: Sydney

S FOR JU)

In this application, Australco Industries Pty Limited ("Australco"), which has judgment against Yabe Constructions Pty Limited (In Liquidation) ("Yabe") for $54,083.46 in respect of building works carried out and materials supplied by Australco to Yabe between October 1990 and February 1991, seeks an order under s 592 of the Corporations Law that the respondents, Daniel Isaac Weinstock, Gregory