In the matter of Skypac Aviation Pty Ltd (in liq) [2020] NSWSC 1697

Supreme Court New South Wales

Medium Neutral Citation: In the matter of Skypac Aviation Pty Ltd (in liq) [2020] NSWSC 1697 Hearing dates: 20 November 2020 Date of orders: 1 December 2020 Decision date: 01 December 2020 Jurisdiction: Equity - Corporations List Before: Gleeson J Decision: (1) Declare that the payment made by Skypac Aviation Pty Ltd to Hope Estates Pty Ltd on 16 October 2015 in the sum of $57,860 is not void by reason of s 468(1) of the Corporations Act 2001 (Cth). (2) Order that the plaintiffs pay the second defendant's costs of the proceedings from 14 February 2020, limited to the plaintiffs' claim to recover the amount of $57,860 under s 468(1) of the Corporations Act. Catchwords: CORPORATIONS – winding up – where company in liquidation – where company hired aircraft from creditor – where payment made by company to creditor after commencement of winding up – whether payment a void disposition – Corporations Act 2001 (Cth) s 468(1) – whether exemption in s 468(2)(b) applied – whether Court should exercise discretion to declare payment is not void Legislation Cited: Companies Act 1961 (Cth), s 227 Companies and Securities Legislation (Miscellaneous Amendments) Act 1985 (Cth), s 101 Companies (New South Wales) Code, ss 368, 368(1A)(b) Corporations Act 2001 (Cth), ss 436A, 468(1), 462(2)(b), 513A(b), 513C, 556 Cases Cited: Australian Securities Commission v Marlborough Gold Mines Ltd (1993) 177 CLR 485; [1993] HCA 15 Carringbush Corporation Pty Ltd v Australian Securities and Investments Commission [2018] FCA 474 Jardio Holdings Pty Ltd v Dorcon Constructions Pty Ltd (1984) 3 FCR 311 Re Atlas Truck Service Pty Ltd (1974) 4 ACTR 19 Re Brash's Pty Ltd (1994) 15 ACSR 477 Re Gray's Inn Construction Co Ltd [1980] 1 All ER 814 Re Klaus Maertin Pty Ltd (in liq); Maertin v Klaus Maertin Pty Ltd [2009] NSWSC 618 Re Loteka Pty Ltd (in liq) (1989) 15 ACLR 620 Re Mal Bower's Macquarie Electrical Centre Pty Ltd (in liq) (1974) NSWLR 254 Re Rampton Holdings Pty Ltd (in liq) (1980) 2 ACSR 547 Re Steane's (Bournemouth) Ltd [1950] 1 All E R 21 Tellsa Furniture Pty Ltd (in liq) v Glendave Nominees Pty Ltd (1987) 9 NSWLR 254 Category: Principal judgment Parties: Christopher John Palmer (First plaintiff) Skypac Aviation Pty Ltd (in liq) (Second plaintiff) Hope Estates Estate Events Pty Ltd (Second defendant) Representation: Counsel: Mr A Narayan (solicitor) (Plaintiffs) Mr D Parish (Second defendant)