In the matter of Australian Tailings Group Pty Limited [2020] NSWSC 1543

Supreme Court New South Wales

Medium Neutral Citation: In the matter of Australian Tailings Group Pty Limited [2020] NSWSC 1543 Hearing dates: 9 April 2020 Date of orders: 9 April 2020 Decision date: 09 April 2020 Jurisdiction: Equity - Corporations List Before: Black J Decision: Company wound up on ground of insolvency. Plaintiffs' costs of the winding up to be costs in the winding up. Catchwords: CORPORATIONS — Winding up — Practice and procedure — Application to adjourn winding up application under Corporations Act 2001 (Cth) s 440A(2) — Where administrator appointed shortly before winding up proceedings — Where winding up application previously opposed on ground of solvency — Short adjournment sought for administrator to investigate information provided by director which administrator cannot presently verify — Where director's evidence does not confirm truth of information provided to administrator — Where administrator previously involved as expert — Whether adjournment in creditors' interest CORPORATIONS — Winding up — Failure to comply with creditor's statutory demand — Presumption of insolvency — Where no solvency evidence led by Company Legislation Cited: - Corporations Act 2001 (Cth), s 440A - Evidence Act 1995 (NSW), s 132 Cases Cited: - Creevey v Deputy Commissioner of Taxation (1996) 19 ACSR 456 - Deputy Commissioner of Taxation v Bradley Keeling Management Pty Limited [2003] NSWSC 47; (2003) 44 ACSR 377 - Offshore and Ocean Engineering v Greenwich Contractors Pty Limited [2012] NSWCA 371 - Re Offshore and Ocean Engineering Pty Limited [2012] NSWSC 1296 Category: Principal judgment Parties: Phillip Wood (First Plaintiff) Bret Kemp (Second Plaintiff) Australian Tailings Group Pty Ltd (Defendant) Representation: Counsel: Mr J Spinak (Plaintiffs) Mr D Krochmalik (Defendant company in administration and administrator Mr Crouch)