Federal Court of Australia
FEDERAL COURT OF AUSTRALIA
Bluestone Property Services Pty Ltd (in liq) v First Equilibrium Pty Ltd [2013] FCA 876 Citation: Bluestone Property Services Pty Ltd (in liq) v First Equilibrium Pty Ltd [2013] FCA 876
Parties: BLUESTONE PROPERTY SERVICES PTY LIMITED (IN LIQUIDATION) ACN 090 597 836 v FIRST EQUILIBRIUM PTY LIMITED ACN 056 601 640
File number: NSD 542 of 2013
Judge: JACOBSON J
Date of judgment: 2 September 2013
Catchwords: CORPORATIONS – winding up – application by judgment creditor to wind up defendant company on the grounds of insolvency – defendant's asserted offsetting claims were not genuine claims within the meaning of s 459H(5) Corporations Act 2001 (Cth) – plaintiff has standing as a creditor in accordance with s 459P(1)(b) Corporations Act 2001 (Cth) – defendant found to be insolvent having regard to evidence of its financial position
Legislation: Corporations Act 2001 (Cth)
Cases cited: Abadeen Group Pty Ltd v Bluestone Property Services Pty Ltd [2011] NSWSC 137 Australian Securities and Investments Commission v Plymin & Ors (2003) 46 ACSR 126 Commercial Union Assurance Co of Australia Ltd v Ferrcom Pty Ltd (1991) 22 NSWLR 389 Gye v McIntyre (1991) 171 CLR 609 In the matter of First Equilibrium Pty Ltd [2012] NSWSC 1625 Philipson v Caldwell (1815) 6 Taunt 176; 128 ER 1001 Tokich Holdings Pty Ltd v Sheraton Constructions Pty Ltd (in liq) [2004] NSWSC 527 Southern Cross Interiors Pty Ltd (in liq) v Deputy Federal Commissioner of Taxation (2001) 53 NSWLR 213 Derham R, The Law of Set-Off (3rd ed, Oxford University Press, 2003)
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