Federal Court of Australia
FEDERAL COURT OF AUSTRALIA
Australian Securities and Investments Commission v Uglii Corporation Ltd (No. 2) [2016] FCA 1511 File number: VID 640 of 2016
Judge: DAVIES J
Date of judgment: 6 December 2016
Catchwords: CORPORATIONS – application for winding up in insolvency under s 459B of the Corporations Act 2001 (Cth) – whether the "cash flow test" for insolvency under s 459B is satisfied
Legislation: Corporations Act 2001 (Cth), ss 459B, 464
Cases cited: Australian Securities and Investments Commission v Bilkurra Investments Pty Ltd [2016] FCA 371 Australian Securities and Investments Commission v Uglii Corporation Ltd [2016] FCA 1099 Southern Cross Interiors Pty Ltd v Deputy Commissioner of Taxation (2001) 53 NSWLR 213
Date of hearing: 6 December 2016
Registry: Victoria
Division: General Division
National Practice Area: Commercial and Corporations
Sub-area: Corporations and Corporate Insolvency
Category: Catchwords
Number of paragraphs: 23
Counsel for the Plaintiff: M Pearce SC with L Papaelia
Solicitors for the Plaintiff: Australian Securities and Investments Commission
Counsel for Interested Persons: J Knorr and H Knorr were granted leave to make submissions in opposition to the Plaintiff's applications
ORDERS VID 640 of 2016
BETWEEN: AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION Plaintiff
AND: UGLII CORPORATION LIMITED (and others named in the Schedule) First Defendant
JUDGE: DAVIES J DATE OF ORDER: 6 dECEMBER 2016
THE COURT ORDERS THAT:
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