Federal Court of Australia
FEDERAL COURT OF AUSTRALIA CORPORATIONS LAW - WINDING UP - PRACTICE AND PROCEDURE - whether ADJOURNMENT - exercise of discretion - Corporations Law ss440A, 459E FULLVIEW -V- WLW PTY LIMITED VG 3208 of 1997 PARKINSON JR MELBOURNE 17 SEPTEMBER 1997
IN THE FEDERAL COURT OF AUSTRALIA
VICTORIA DISTRICT REGISTRY VG 3208 of 1997
BETWEEN: FULLVIEW PTY LTD (ACN 059 626 658)
Applicant
AND: WLW PTY LIMITED (ACN 006 691 612) (in administration)
Respondent
JUDICIAL REGISTRAR: PARKINSON JR
DATE OF ORDER: 17 SEPTEMBER 1997
WHERE MADE: MELBOURNE
THE COURT ORDERS THAT: 1. The application be adjourned to 13 October, 1997 at 10.15 am. 2. Costs be reserved. 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 3208 of 1997
BETWEEN: FULLVIEW PTY LTD (ACN 059 626 658)
Applicant
AND: WLW PTY LIMITED (ACN 006 691 612) (in administration)
Respondent
JUDICIAL REGISTRAR: PARKINSON JR
DATE: 17 SEPTEMBER 1997
PLACE: MELBOURNE
REASONS FOR DECISION In this proceeding I am required to determine whether an order ought be made adjourning the proceeding for the winding up of the respondent company. The applicant seeks an order that a liquidator be appointed and the company be wound up. The applicant is a creditor of the respondent company in the amount of$45,530.29, being the lessor of property to the respondent under which lease amounts of rental have not been paid. The report to creditors states the respondent's liability to secured creditors as $25,484,921.00, and $936,576.00 in wages to484priorityemployee unsecured creditors, and $1,336,417.00 to ordinaryunsecured creditors. (Exhibit CMcD1) The respondent company is one a number of companies in a group trading under the name of 'Bells Restaurants'. The 'Bells' chain resulted from the acquisition on 7 April, 1997 of the 'Sizzler' restaurant chain which was then trading in New South Wales, Victoria, South Australia and Tasmania. The group companies traded until 1 June, 1997, when according to the administrator's report to creditors, a decision was made to cease trading as a consequence of ongoing trading losses.
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