Australian Securities and Investments Commission v Centro Financial Synergy Group [2007] FCA 2084

FEDERAL COURT OF AUSTRALIA

Australian Securities and Investments Commission v Centro Financial Synergy Group [2007] FCA 2084

CORPORATIONS – winding up on application by ASIC – just and equitable grounds – s 461(1)(k) Corporations Act 2001 (Cth) – sole director ill – company no longer carrying on any business – claims by investors made to company ignored – no effective management – other failures by company to comply with statutory requirements Held: company ordered to be wound up

Corporations Act 2001 (Cth) ss 461(1)(k), 462(2)(e), 464, 464(2), 912A(1)(b), 912C, 989B, 989D, 1311, 1311(1) Australian Securities and Investments Commission v AS Nominees Ltd (1995) 133 ALR 1 Australian Securities and Investments Commission v Green Pacific Energy (2006) 59 ACSR 142 Clarke v Bridges [2004] FCA 394

AUSTRALIAN SECURITIES & INVESTMENTS COMMISSION v CENTRO FINANCIAL SYNERGY GROUP PTY LTD (ACN 099 980 346) WAD 14 OF 2007

GILMOUR J

17 DECEMBER 2007

PERTH IN THE FEDERAL COURT OF AUSTRALIA

WESTERN AUSTRALIA DISTRICT REGISTRY WAD 14 OF 2007

IN THE MATTER OF CENTRO FINANCIAL SYNERGY GROUP PTY LTD (ACN 099 980 346) BETWEEN: AUSTRALIAN SECURITIES & INVESTMENTS COMMISSION

Plaintiff

AND: CENTRO FINANCIAL SYNERGY GROUP PTY LTD

(ACN 099 980 346)

Defendant

JUDGE: GILMOUR J DATE OF ORDER: 17 DECEMBER 2007

WHERE MADE: PERTH

THE COURT ORDERS THAT:

1. The defendant be wound up pursuant to section 461(1)(k) of the Corporations Act 2001 (Cth). 2. Christopher John Munday of Pitcher Partners, Level 17, 140 St George's Terrace, Perth WA 6000, be appointed as liquidator of the defendant. 3. The plaintiff's costs including all reserved costs be taxed and be reimbursed out of the property of the defendant in accordance with sub-section 466(2) of the Corporations Act 2001 (Cth). Note: Settlement and entry of orders is dealt with in Order 36 of the Federal Court Rules. IN THE FEDERAL COURT OF AUSTRALIA