Federal Court of Australia
FEDERAL COURT OF AUSTRALIA
Haxton, in the matter of CEDGEW Pty Ltd [2003] FCA 560
CORPORATIONS – winding up – application to terminate winding up – where company solvent – where creditors, contributories and liquidator consent to termination
Corporations Act 2001 (Cth) ss 482, 493, 511 APPLICATION BY CHARLES DAVID HAXTON AND WENDY HAXTON, IN THE MATTER OF CEDGEW PTY LTD ACN 000 780 192 (IN LIQUIDATION)
N3080 OF 2002 EMMETT J 16 MAY 2003 SYDNEY
IN THE FEDERAL COURT OF AUSTRALIA
NEW SOUTH WALES DISTRICT REGISTRY N3080 OF 2002
IN THE MATTER OF CEDGEW PTY LTD (IN LIQUIDATION)
CHARLES DAVID HAXTON
FIRST PLAINTIFF
WENDY HAXTON
SECOND PLAINTIFF
JUDGE: EMMETT J
DATE OF ORDER: 16 MAY 2003
WHERE MADE: SYDNEY
THE COURT ORDERS THAT: 1. the winding up of CEDGEW Pty Ltd ACN 000 780 192 (in liquidation) be terminated on and with effect from 16 May 2003. Note: Settlement and entry of orders is dealt with in Order 36 of the Federal Court Rules.
IN THE FEDERAL COURT OF AUSTRALIA
NEW SOUTH WALES DISTRICT REGISTRY N3080 OF 2002
IN THE MATTER OF CEDGEW PTY LTD (IN LIQUIDATION)
CHARLES DAVID HAXTON
FIRST PLAINTIFF
WENDY HAXTON
SECOND PLAINTIFF
JUDGE: EMMETT J
DATE: 16 MAY 2003
PLACE: SYDNEY
REASONS FOR JUDGMENT
1 I have before me an application made under s 511(1)(b) of the Corporations Act 2001 (Cth) ('the Act') to exercise the powers of the Court under s 482(1) of the Act in respect of the winding up of CEDGEW Pty Ltd ('the Company'). The Company is in voluntary liquidation and the plaintiffs are the directors and one is a contributory of the Company.
2 Section 482(1) provides that at any time during the winding-up of a company the Court may, on application, make an order staying the winding-up either indefinitely or for a limited time, or terminating the winding-up on a day specified in the order. Section 511(1)(b) provides that any contributory or creditor may apply to the Court to exercise all or any of the powers that the Court might exercise if the company were being wound-up by the Court. Accordingly, the Court is authorised to make an order that the winding-up of the Company be either stayed or terminated. The primary application is for termination of the winding-up of the Company with immediate effect.
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