Federal Court of Australia
FEDERAL COURT OF AUSTRALIA CORPORATIONS – Winding Up – application by Insurance and Superannuation Commissioner for winding up of insurance company under s 462 (j) of Corporations Law – whether Commissioner satisfied threshold test laid down in s 462 (3) of Corporations Law of proving that at date of application that company's "liabilities" exceeded its "assets" within meaning of Part III of Insurance Act 1973 (Cth) – no question of principle. Corporations Law ss 461 (j); 462 (3) (b) Insurance Act 1973 (Cth) ss 30 (1); 33 (4), (6) DAVID BRUCE MAGNEY, MICHAEL KENNETH ADRIAN RHODES AND SIMON CHISHOLM HORTON TRADING AS MAGNEY & RHODES v GREATLANDS GENERAL INSURANCE COMPANY LTD (IN THE MATTER OF GREATLANDS GENERAL INSURANCE COMPANY LTD ACN 003 641 834) NG 3050 of 1998 INSURANCE AND SUPERANNUATION COMMISSIONER v GREATLANDS GENERAL INSURANCE COMPANY LTD (IN THE MATTER OF GREATLANDS GENERAL INSURANCE COMPANY LTD ACN 003 641 834) NG 3057 of 1998 LINDGREN J SYDNEY 2 JUNE 1998
IN THE FEDERAL COURT OF AUSTRALIA
NEW SOUTH WALES DISTRICT REGISTRY NG 3057 of 1998
in the matter of: greatlands general insurance company ltd
(aCN 003 641 834)
BETWEEN: DAVID BRUCE MAGNEY, MICHAEL KENNETH ADRIAN RHODES AND SIMON CHISHOLM HORTON TRADING AS MAGNEY & RHODES
Applicant
AND: greatlands general insurance company ltd
(acn 003 641 834)
Respondent
ng 3057 OF 1998
in the matter of: greatlands general insurance company ltd
(aCN 003 641 834)
BETWEEN: insurance and superannuation commissioner
Applicant
AND: greatlands general insurance company ltd
(acn 003 641 834)
Respondent
JUDGE: LINDGREN J
DATE: 2 JUNE 1998
PLACE: SYDNEY
IN EACH PROCEEDING THE COURT ORDERS THAT 1. The proceeding be stood over to 5 June 1998 at 9.30 am for the making of orders including orders as to costs. 2. By 5.00 pm on 4 June 1998, the parties supply to the Associate to Lindgren J agreed short minutes of orders to be made and failing agreement by that time, short minutes of the orders for which they will respectively contend and outlines of submissions in support. Note: Settlement and entry of orders is dealt with in Order 36 of the Federal Court Rules.
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