In the matter of Pacific Steelfixing Pty Ltd [2021] NSWSC 655

Supreme Court New South Wales

Medium Neutral Citation: In the matter of Pacific Steelfixing Pty Ltd [2021] NSWSC 655 Hearing dates: 20, 21 and 22 April 2021 Date of orders: 9 June 2021 Decision date: 09 June 2021 Jurisdiction: Equity - Corporations List Before: Williams J Decision: Order that the proceedings be dismissed. Catchwords: CORPORATIONS — winding up — voidable transactions — unfair preferences — insolvent transactions — payments to Deputy Commissioner of Taxation to reduce running balance account deficit —Corporations Act 2001 (Cth), s 588FA — where plaintiff liquidator's investigations into company's assets incomplete at time of final hearing — where evidence adduced by the plaintiffs does not provide an appropriate basis on which the Court can reach a reasonable decision about whether the defendant received more from the relevant payments than it would receive from the company in respect of the debt if those payments were set aside and the defendant were to prove as an unsecured creditor in the winding up of the company — whether the company was insolvent at the time that each of the relevant payments was made Legislation Cited: Corporations Act 2001 (Cth), ss 95A, 588E, 588FA, 588FC, 588FE, 588FF, 588FG Evidence Act 1995 (NSW), s 136 Taxation Administration Act 1953 (Cth), ss 8AAZA, 8AAZC, 8AAZD, 8AAZF, 8AAZH, 353-10 Cases Cited: Australia Capital Financial Management Pty Ltd v Linfield Developments Pty Ltd (2017) 18 BPR 36,683 Hall v Poolman (2007) 65 ACSR 123; [2007] NSWSC 1330 Ho v Powell (2001) 51 NSWLR 572 In the matter of Humur Pty Limited [2020] NSWSC 1759 In the matter of Western Port Holdings Pty Ltd (receivers and managers apptd) (in liq) (2021) 150 ACSR 274 Jagatramka v Wollongong Coal Ltd [2021] NSWCA 61 Category: Principal judgment Parties: Daniel Frisken as Liquidator of Pacific Steelfixing Pty Ltd (in Liquidation) ACN 621 306 296 (First Plaintiff) Pacific Steelfixing Pty Ltd (In Liquidation) ACN 621 306 296 (Second Plaintiff) Deputy Commissioner of Taxation (Defendant) Representation: Counsel: Mr P Folino-Gallo with Mr J Parrish (First and Second Plaintiffs) Ms K Petch (Defendant)