In the matter of Libdy Developments Pty Ltd [2023] NSWSC 647

Supreme Court New South Wales

Medium Neutral Citation: In the matter of Libdy Developments Pty Ltd [2023] NSWSC 647 Hearing dates: 6 June 2023 Date of orders: 15 June 2023 Decision date: 15 June 2023 Jurisdiction: Equity - Corporations List Before: Williams J Decision: See orders at [148]. Catchwords: CORPORATIONS — Winding up — Statutory demand — Genuine dispute about existence or amount of debt — Parties in agreement as to variation of demand pursuant to s 459H(4) to reduce debt to undisputed amount CORPORATIONS — Winding up — Statutory demand — whether genuine offsetting claim — where evidence relating to key elements of offsetting claim did not rise above the level of assertion and where those assertions were inconsistent with contemporaneous documents Legislation Cited: Corporations Act 2001 (Cth) ss 459H, 459H(4), 459H(5) Evidence Act 1995 (NSW) s 136 Cases Cited: County Securities Pty Ltd v Challenger Group Holdings Ltd [2008] NSWCA 193 Crontec Automotive Tooling Pty Ltd v Allsteel [2006] NSWSC 555 Equuscorp Pty Ltd v Glengallan Investments Pty Ltd (2004) 218 CLR 471; (2004) 79 ALJR 206; (2004) 211 ALR 101; (2004) 57 ATR 556; [2004] HCA 55 Grandview Ausbuilder Pty Ltd v Budget Demolitions Pty Ltd (2019) 99 NSWLR 397; (2019) 136 ACSR 563; [2019] NSWCA 60 In the matter of Citadel Financial Corporation Pty Ltd [2019] NSWSC 65 Texts Cited: N/A Category: Principal judgment Parties: Libdy Developments Pty Ltd (ACN 137 499 300) (Plaintiff) ResourceCo Material Solutions Pty Ltd (ACN 608 316 687) (Defendant) Representation: Counsel: B Anderson (Plaintiff) C D Wood SC with C A Coventry (Defendant)