Trecomax Pty Ltd v Prentice [2004] FCA 1057

FEDERAL COURT OF AUSTRALIA

Trecomax Pty Ltd v Prentice [2004] FCA 1057

CORPORATIONS – winding up – application to set aside statutory demand – applicant trustee of administration trust for legal firm – bankrupt a former partner – trustee in bankruptcy claims amount standing to bankrupt's credit in beneficiary loan account with trust – whether genuine dispute as to claims

Corporations Act 2001 (Cth) ss 459E, 459G, 459H Corporations Law Bankruptcy Act 1966 (Cth) ss 58, 116

Spencer Constructions Pty Ltd v G & M Aldridge Pty Ltd (1997) 76 FCR 452 applied Re Morris Catering (Australia) Pty Ltd (1993) 11 ACSR 601 referred to Mibor Investments Pty Ltd v Commonwealth Bank of Australia [1994] 2 VR 290 referred to Eyota Pty Ltd v Hanave Pty Ltd (1994) 12 ACSR 785 referred to Panel Tech Industries v Australian Skyreach (No 2) [2003] NSWSC 896 cited Delnorth v State Bank of New South Wales (1997) 17 ACSR 377 cited Burdon Pty Ltd v Gillford Pty Ltd [1995] FCA 1096 cited

McPherson, The Law of Company Liquidation (3rd ed, 1987) McPherson, The Law of Company Liquidation (4th ed, 1999) TRECOMAX PTY LTD v MAXWELL WILLIAM PRENTICE as the Trustee of the Bankrupt Estate of David John Daniels NSD 406 of 2004 SACKVILLE J SYDNEY 17 AUGUST 2004

IN THE FEDERAL COURT OF AUSTRALIA

NEW SOUTH WALES DISTRICT REGISTRY NSD 406 of 2004

BETWEEN: TRECOMAX PTY LTD

APPLICANT

AND: MAXWELL WILLIAM PRENTICE as the Trustee of the Bankrupt Estate of David John Daniels

RESPONDENT

JUDGE: SACKVILLE J

DATE OF ORDER: 17 AUGUST 2004

WHERE MADE: SYDNEY

THE COURT ORDERS THAT: 1. The creditor's statutory demand made by the respondent on the applicant, dated 5 March 2004, be set aside. 2. The respondent pay the applicant's costs of the application. Note: Settlement and entry of orders is dealt with in Order 36 of the Federal Court Rules.