In the matter of Victor Sports Pty Ltd [2021] NSWSC 1148

Supreme Court New South Wales

Medium Neutral Citation: In the matter of Victor Sports Pty Ltd [2021] NSWSC 1148 Hearing dates: 23 August 2021 Date of orders: 23 August 2021 Decision date: 23 August 2021 Jurisdiction: Equity - Corporations List Before: Rees J Decision: Refuse administrators' application to adjourn winding-up proceedings. Liquidator appointed. Catchwords: CORPORATIONS – winding up – application to adjourn winding up proceedings – s. 440A(2), Corporations Act – administrators appointed after winding up proceedings commenced – no DOCA proposed – administrators wish to find out more – company insolvent – company not trading – adjournment opposed by a substantial creditor – transactions and events warranting further investigation exist – plaintiff prepared to fund liquidator's investigations – adjournment refused – company wound up in insolvency Legislation Cited: Corporations Act 2001 (Cth) ss 440A, 459A, 459P Cases Cited: Deputy Commissioner of Taxation v KJ Consulting Pty Ltd (administrators appointed) [2005] FCA 1827 In the matter of Australian Tailings Group Pty Ltd [2020] NSWSC 1543 In the matter of Bobos Engineering Australian Pty Ltd [2015] NSWSC 2027 In the matter of Cresco Opus Fund No 4 Pty Ltd (Administrator Appointed) [2019] NSWSC 941 In the matter of Dan Phillips Holdings Pty Ltd [2017] NSWSC 954 In the matter of Denham Constructions Pty Ltd [2016] NSWSC 1426 In the matter of Exalt Group Pty Ltd (Administrator Appointed) [2013] FCA 455 In the matter of i-Prosperity Capital Pty Ltd [2020] NSWSC 1116 In the matter of Ming Tian Real Property Pty Ltd [2021] NSWSC 912 In the matter of Offshore & Ocean Engineering Pty Ltd [2012] NSWSC 1296 Weriton Finance Pty Ltd v PNR Pty Ltd (in administration) [2012] NSWSC 1402; (2012) 92 ACSR 88 Category: Principal judgment Parties: Micah Frankenstein (Plaintiff) Victor Sports Pty Limited (First Defendant) David Goldman (Second Defendant) Andrew Shenker (Third Defendant) Representation: Counsel: H W Somerville (Plaintiff) C Leonidas, solicitor (First Defendant) No appearance (Second Defendant) No appearance (Third Defendant)