Federal Court of Australia
FEDERAL COURT OF AUSTRALIA
IN THE FEDERAL COURT OF AUSTRALIA
VICTORIA DISTRICT REGISTRY VG 3600 of 1996
BETWEEN: GRAYWINTER PROPERTIES PTY LTD (ACN 051 373 570)
First Applicant
GRAYWINTER MANAGEMENT PTY LTD (ACN 057 918 340)
Second Applicant
AUSTRALIAN INVESTMENT MANAGEMENT (HOLDINGS)
PTY LTD (ACN 055 803 298)
Third Applicant
AND: BMW AUSTRALIA FINANCE LIMITED
Respondent
JUDGE: RYAN J DATE OF ORDER: 15 SEPTEMBER 1997 WHERE MADE: MELBOURNE
MINUTES OF ORDER
THE COURT ORDERS: 1. That the application to set aside each of the statutory demands be dismissed. 2. That the period for compliance with each of the statutory demands be extended to 6 October 1997. 3. That in the event that any of the applicants be wound up in an application relying on the statutory demand addressed to that applicant, the respondent's costs of this application form part of its costs in that winding up application but otherwise the applicants pay the respondent's costs of this application, such costs to be taxed in default of agreement.
Note: Settlement and entry of orders is dealt with in Order 36 of the Federal Court Rules.
IN THE FEDERAL COURT OF AUSTRALIA
VICTORIA DISTRICT REGISTRY VG 3600 of 1996
BETWEEN: GRAYWINTER PROPERTIES PTY LTD (ACN 051 373 570)
First Applicant
GRAYWINTER MANAGEMENT PTY LTD (ACN 057 918 340)
Second Applicant
AUSTRALIAN INVESTMENT MANAGEMENT (HOLDINGS)
PTY LTD (ACN 055 803 298)
Third Applicant
AND: BMW AUSTRALIA FINANCE LIMITED
Respondent
JUDGE: RYAN J DATE: 15 SEPTEMBER 1997 PLACE: MELBOURNE
REASONS FOR JUDGMENT On 15 November 1992, the respondent, BMW Australia Finance Limited ("BMW"), served a statutory demand under s 459E of the Corporations Law on each of the three applicants, Graywinter Properties Pty Ltd ("Properties"), Graywinter Management Pty Ltd ("Management") and Australian Investment Management (Holdings) Pty Ltd ("Investment"). The statutory demand indicated that Properties was the lessor from BMW of a BMW motor vehicle and each of Management and Investment had guaranteed the due performance by Properties of its obligations under the lease. Each applicant applied on 9 December 1996 to set aside the statutory demand against it and relied on an affidavit in substantially identical terms sworn by Garrick Lewis Gray. Mr Gray's affidavit in support of Management's application was in these terms:
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