In the matter of Matrix Global Investment Group Sydney Pty Ltd (ACN 614 718 399) [2021] NSWSC 80

Supreme Court New South Wales

Medium Neutral Citation: In the matter of Matrix Global Investment Group Sydney Pty Ltd (ACN 614 718 399) [2021] NSWSC 80 Hearing dates: 8 February 2021 Date of orders: 12 February 2021 Decision date: 12 February 2021 Jurisdiction: Equity - Corporations List Before: Williams J Decision: Order that the first plaintiff be wound up and a registered liquidator be appointed. Order that paragraph 10 of the further amended interlocutory process filed on 26 November 2020 is dismissed. Catchwords: CORPORATIONS – winding up – application by minority shareholders to wind up a company under s 461(1)(k) of the Corporations Act 2001 (Cth) – majority shareholder caused whole of company's funds to be transferred to accounts controlled by him – non-compliance with subsequent order requiring company's funds to be paid into court – no issue of principle Legislation Cited: Corporations Act 2001 (Cth) ss 232, 233, 459A, 459P, 461, 462 and 472 Cases Cited: Australian Securities and Investments Commission v Active Super Pty Ltd (No. 2) (2013) 93 ACSR 189; [2013] FCA 234 In the matter of AJ Roberts Removals & Storage Pty Ltd [2017] NSWSC 1054 In the matter of Austral Alloys Pty Ltd [2017] NSWSC 1833 In the matter of Pure Nature Sydney Pty Ltd [2018] NSWSC 914 Re New Cap Reinsurance Corporation (1999) 32 ACSR 234; [1999] NSWSC 536 Re Therma Truck Pty Ltd [2016] NSWSC 266 Category: Procedural rulings Parties: Yikai Chen (First Respondent) Matrix Global Investment Group Sydney Pty Ltd (ACN 614 718 339) (Second Respondent/Second Plaintiff) XXX Jiali (First Applicant/First Defendant) Australian and New Zealand Banking Corporation (ACN 620 929 106) (Second Defendant) Tuo Sha (Second Applicant/Third Defendant) Chao Sun (Fourth Defendant) Elle Realty Group Pty Ltd (ACN 620 929 106) (Fifth Defendant) Mingxia Shao (Second Respondent) Representation: Counsel: Ms J Mee (Applicants) N/A (Respondents)