Deputy Commissioner of Taxation v Priestdale Property Holdings Pty Ltd [2012] FCA 1325

.FEDERAL COURT OF AUSTRALIA

Deputy Commissioner of Taxation v Priestdale Property Holdings Pty Ltd [2012] FCA 1325 Citation: Deputy Commissioner of Taxation v Priestdale Property Holdings Pty Ltd [2012] FCA 1325

Parties: DEPUTY COMMISSIONER OF TAXATION v PRIESTDALE PROPERTY HOLDINGS PTY LTD ACN 150 966 377

File number: QUD 263 of 2012

Judge: DOWSETT J

Date of judgment: 8 November 2012

Legislation: Corporations Act 2001 (Cth) ss 467A, 459R A New Tax System (Goods and Services Tax) Act 1999 (Cth) ss 11-5, 29-10(1) 195-1

Cases cited: Deputy Commissioner of Taxation v Broadbeach Properties Pty Ltd (2008) 237 CLR 473 cited

Date of hearing: 8 November 2012

Place: Brisbane

Division: GENERAL DIVISION

Category: No Catchwords

Number of paragraphs: 31

Counsel for the Plaintiff: Mr R Schulte

Solicitor for the Plaintiff: ATO Legal Services Branch

Counsel for the Defendant: Mr D Marks

Solicitor for the Defendant: Conomos Lawyers

IN THE FEDERAL COURT OF AUSTRALIA QUEENSLAND DISTRICT REGISTRY GENERAL DIVISION QUD 263 of 2012

BETWEEN: DEPUTY COMMISSIONER OF TAXATION

Plaintiff

AND: PRIESTDALE PROPERTY HOLDINGS PTY LTD ACN 150 966 377

Defendant

JUDGE: DOWSETT J DATE OF ORDER: 8 NOVEMBER 2012 WHERE MADE: BRISBANE

THE COURT ORDERS THAT:

1. Michael Richard Peldan, an official liquidator, be appointed as the provisional liquidator of Priestdale Property Holdings Pty Ltd ACN 150 966 377 ("the Company") under section 472(2) of the Corporations Act 2001 (Cth) ("the provisional liquidator). 2. The provisional liquidator will have the power to: 2.1 Undertake all of the functions and powers conferred on him by the Corporations Act 2011 (Cth ("the Act"); 2.2 To investigate, and if thought appropriate, prosecute Federal Court of Australia, Queensland Registry, proceeding number QUD468/2012 being an appeal under Part IVC Taxation Administration Act 1953 (Cth) ("TAA"); 2.3 To investigate, and if thought appropriate: 2.3.1 Lodge any objection(s) against the declaration already served by the Commissioner of Taxation ("the Commissioner") under Division 165 of the A New Tax System (Goods and Services Tax) Act 1999 (Cth); 2.3.2 Take all steps to prosecute any appeal under Part IVC TAA in respect of the objection(s) referred to in subparagraph (i) above; 2.3.3 To investigate, and if thought appropriate, lodge any objection(s) against any assessments that have been issued or that may issue by the Commissioner against the Company pursuant to the Taxation Administration Act 1953; 2.4 To investigate, and if thought appropriate to defend or otherwise resolve the claim made against the Company by the St George Bank – A Division of the Westpac Banking Corporation ABN 33 007 457 141 in the Supreme Court of Queensland, Brisbane Registry, proceeding number BS3962/2012 ("the Supreme Court proceedings"); 2.5 To take possession of, and preserve, the property of the Company, including but not limited to the books and records of the Company. 3. Pursuant to section 459R of the Corporations Act 2001 (Cth), the period within which the application for the Company to be wound up in insolvency is to be determined be extended to 5.00pm on 21 December 2012. 4. The provisional liquidator is to report to the Court on or before 23 November 2012, to the extent that he can at that time, the financial position of the company and as to the merits from the company's point of view, of the proceedings identified or anticipated in paragraphs 2 (b), (c) and (d) hereto. 5. The matter be adjourned for directions on 23 November 2012. 6. The parties be given liberty to apply on three (3) days written notice. 7. The costs of and incidental to this application be reserved. Note: Entry of orders is dealt with in Rule 39.32 of the Federal Court Rules 2011.