Couve v J Pierre Couve Limited (In Liquidation) [1933] HCA 44

486 HIGH COURT (1933,

H.G.or A. — | therefore agree that the sum of £4,260, which was payable and 1988: paid under the document of sub-lease, was demanded and given as

Ra Dervry a premium in connection with a leasehold estate.

HSORBAL The appeal should therefore be allowed. ComMIs-

SIONER OF Taxation McTiernan J. I agree that the appeal should be allowed.

v.

Evans Lrp. Appeal allowed:

Solicitor for the appellant, Albert A. Wolff, Assistant Solicitor for Western Australia. Solicitors for the respondent, Downing & Downing. HD We

(HIGH COURT OF AUSTRALIA.]

COUVE 5 3 ss i , i . APPELLANT

RESPONDENT,

AND

J. PIERRE COUVE LIMITED (IN LIQUIDA- |, TION) AND ANOTHER. . .| .f uaa

APPLICANTS, si

ON APPEAL FROM THE SUPREME COURT OF NEW SOUTH WALES.

H.C. or A. Company—Winding up—Misfeasance by director—Fraudulent preference—Undrawn 1933, salary of managing director—Company's assets taken in liew thereof after presenta- aes, tion of petition—Measure of loss—Companies Act 1899 (N.S.W.) (No. 40 of

1899), secs. 152*, 162*. ;

Sypyey,

Aug. 11,14. Company—Winding up—Misfeasance by director—Proceedings by liquidator fo order for repayment—Defences—Assets insufficient to meet amount due und

Mexnourye, , nen debenture—Proceedings effective to benefit debenture-holder only. ei The appellant was the managing director of a company of which he was th and MéTieman only substantial shareholder. After the presentation of a petition for The Companies Act 1899 (N.S.W.) and choses in action of such compan provides, by sec. 152: "Where acom- . . . made between the commene pany is being wound-up by the Court, ment of the winding-up and the ord or under the supervision of the Court, for winding-up shall, unless the

all dispositions of the property, effects, otherwise orders, be void." By see:

OLR.

panies Act 1899 (N.S.W.).

of that secured creditor alone.