In the matter of Custom Bus Australia Pty Limited (in liquidation) [2021] NSWSC 1036

Supreme Court New South Wales

Medium Neutral Citation: In the matter of Custom Bus Australia Pty Limited (in liquidation) [2021] NSWSC 1036 Hearing dates: 10 August 2021 Decision date: 18 August 2021 Jurisdiction: Equity - Corporations List Before: Black J Decision: Second Plaintiff found to have been insolvent for the whole of the period from 18 July 2017 to 18 January 2018. Catchwords: CORPORATIONS — Winding up — Voidable transactions — Separate question as to solvency of company — Whether Company was insolvent during the relevant period. Legislation Cited: - Corporations Act 2001 (Cth), ss 95A, 286, 588FA, 588FC, 588FE, 588FF Cases Cited: - Australian Securities and Investments Commission (ASIC) v Plymin (No 1) (2003) 175 FLR 124; (2003) 46 ACSR 126; [2003] VSC 123 - Bentley Smythe Pty Ltd v Anton Fabrications (NSW) Pty Ltd (2011) 248 FLR 384; [2011] NSWSC 186 - Clifton (Liquidator) v Kerry J Investment Pty Ltd trading as Clenergy (2020) 379 ALR 593; (2020) 143 ACSR 1; [2020] FCAFC 5 - Elliott v Australian Securities and Investments Commission; Plymin v ASIC (2004) 10 VR 369; (2004) 48 ACSR 621; [2004] VSCA 54 - First Strategic Development Corporation Ltd (in liq) v Chan [2014] QSC 60 - International Cat Manufacturing (in liq) v Rodrick (2013) 97 ACSR 200; [2013] QCA 372 - Lewis (as liquidator of Doran Constructions Pty Ltd) v Doran (2005) 219 ALR 555; (2005) 54 ACSR 410; [2005] NSWCA 243 - Morris v Danoz Directions Pty Ltd (in liq) (No 2) [2010] FCA 836 - Quick v Stoland Pty Ltd (1998) 87 FCR 371; (1998) 157 ALR 615; (1998) 29 ACSR 130 - Re Bias Boating Pty Ltd (recs and mgrs apptd) (in liq) [2018] NSWSC 1977 - Re Swan Services Pty Limited (in liq) [2016] NSWSC 1724 - Smith v Boné (2015) 104 ACSR 528; [2015] FCA 319; BC201502363 - Southern Cross Interiors Pty Ltd v Deputy Commissioner of Taxation (2001) 53 NSWLR 213; (2001) 39 ACSR 305; [2001] NSWSC 621 - SX Projects Pty Ltd (in liq) v Battaglia [2018] NSWSC 1830 - White Constructions (ACT) Pty Ltd (in liq) v White (2004) 49 ACSR 220; [2004] NSWSC 71 Category: Principal judgment Parties: Simon John Cathro and Aaron Kevin Lucan (in their capacity as joint and several liquidators of Custom Bus Australia Pty Ltd (in liquidation) (First Plaintiffs) Custom Bus Australia Pty Limited (in liquidation) (Second Plaintiff) Ausmotor International Pty Ltd (First Defendant) Auto-plex Pty Ltd (Second Defendant) BCR Australia Pty Ltd (Third Defendant) CBM South Pacific Pty Ltd (Fifth Defendant) Connexwire Ltd (Sixth Defendant) Craft Fibreglass Composites Pty Ltd (Seventh Defendant) John Gilbert & Company Limited (Eighth Defendant) Key-line Distributors Pty Ltd (Ninth Defendant) PPG Industries Australia Pty Ltd (Tenth Defendant) Chief Commissioner of State Revenue, NSW (Eleventh Defendant) SMC Corporation (Australia) Pty Ltd (Twelfth Defendant) United Safety & Survivability Corporation Pty Ltd (Thirteenth Defendant) Warringah Plastics Pty Ltd (Fourteenth Defendant) Representation: Counsel: F Assaf SC/D Krochmalik (Plaintiffs)