FEDERAL COURT OF AUSTRALIA Cooper as Official Liquidator of Line 1 Pty Ltd (In Liq) (ACN 094 650 361) v Commissioner of Taxation [2007] FCA 1626 NICHOLAS DAVID COOPER AS OFFICIAL LIQUIDATOR OF LINE 1 PTY LTD (IN LIQUIDATION) (ACN 094 650 361) v COMMISSIONER OF TAXATION No SAD 6 of 2007 FINN J 24 OCTOBER 2007 ADELAIDE IN THE FEDERAL COURT OF AUSTRALIA South Australia DISTRICT REGISTRY SAD 6 OF 2007 BETWEEN: NICHOLAS DAVID COOPER AS OFFICIAL LIQUIDATOR OF LINE 1 PTY LTD (IN LIQUIDATION) (ACN 094 650 361) Applicant AND: COMMISSIONER OF TAXATION Respondent JUDGE: FINN J DATE: 24 October 2007 PLACE: Adelaide REASONS FOR JUDGMENT 1 The parties in this matter have, by consent, sought that I make certain declarations and orders in respect of what were claimed to be voidable transactions within the meaning of s 588FE of the Corporations Act 2001 (Cth) these transactions being, variously, uncommercial transaction payments and unfair preference payments made by Line 1 Pty Ltd to the respondent between 8 January 2005 and 15 June 2005. An agreed statement of facts with accompanying annexures and exhibits were filed in support of the proposed orders. 2 I am satisfied having regard to those materials, and in particular to the Official Liquidator's report on the insolvency of Line 1, that the company was insolvent from 1 January 2005 until the company was wound up in January 2006. I equally am satisfied that the various payments made by Line 1 to the respondent had the characteristics attributed to them in the consent orders. 3 Accordingly I will make the orders sought which are in the attached consent minutes of orders. I certify that the preceding three (3) numbered paragraphs are a true copy of the Reasons for Judgment herein of the Honourable Justice Finn. Associate: Dated: 24 October 2007 IN THE FEDERAL COURT OF AUSTRALIA SOUTH AUSTRALIA DISTRICT REGISTRY No: SAD 6/2007 NICHOLAS DAVID COOPER AS OFFICIAL LIQUIDATOR OF LINE 1 PTY LTD (IN LIQUIDATION) ACN 094 650 361 Plaintiff COMMISSIONER OF TAXATION First Defendant NICHOLAS ANDREW WILLIAMSON Second Defendant ORDER JUDGE: Justice Finn DATE OF ORDER: 24 October 2007 WHERE MADE: Adelaide THE COURT DECLARES BY CONSENT THAT: 1. The uncommercial transaction payments made by Line 1 Pty Ltd ACN 094 650 361 (in liquidation (Line 1) to the Respondent between the period 8 February 2005 to 9 June 2005 were voidable transactions within the meaning of section 588FE of the Corporations Act 2001. 2. The unfair preference payments made by Line 1 to the Respondent between the period 27 April 2005 and 15 June 2005 were voidable transactions within the meaning of s 588FE of the Corporations Act 2001. THE COURT ORDERS BY CONSENT THAT: 1. Pursuant to s 588FF of the Corporations Act 2001, the Respondent pay to the Applicant the sum of $68,599.00, inclusive of prejudgment interest and costs. 2. The matter is otherwise dismissed. Date that entry is stamped: DISTRICT REGISTRAR