In the matter of Etna Developments Pty Ltd [2023] NSWSC 1239

Supreme Court New South Wales

Medium Neutral Citation: In the matter of Etna Developments Pty Ltd [2023] NSWSC 1239 Hearing dates: 16 October 2023 Date of orders: 20 October 2023 Decision date: 20 October 2023 Jurisdiction: Equity - Corporations List Before: Williams J Decision: Proceedings dismissed; see below at [59]. Catchwords: CORPORATIONS — Winding up sought on just and equitable ground under s 461(1)(k) of the Corporations Act 2001 (Cth) — Where first plaintiff an unsecured contingent of the company — Where second plaintiff failed to establish standing to apply for winding up — Where first plaintiff failed to establish that winding up is just and equitable in all the circumstances — No question of principle. Legislation Cited: Corporations Act 2001 (Cth), ss 420A, 461(1)(k), 462 Real Property Act 1900 (NSW), s 57(2)(b) Cases Cited: Ian Allan Byrne v A J Byrne Pty Limited [2012] NSWSC 667 In the matter of Austral Alloys Pty Ltd [2017] NSWSC 1833 In the matter of Catombal Investments Pty Ltd (2012) 30 ACLC 12-031; [2012] NSWSC 775 In the matter of CNPR Ltd [2018] NSWSC 989 In the matter of Gearhouse BSI Pty Ltd [2021] NSWSC 98 In the matter of Pure Nature Sydney Pty Ltd [2018] NSWSC 914 Re Alon Pty Ltd [2022] NSWSC 64 Texts Cited: N/A Category: Principal judgment Parties: ADCF Investments Pty Ltd (First Plaintiff) Pyramids Builders Pty Ltd (Second Plaintiff) Etna Developments Pty Ltd (Defendant) Representation: Counsel: Mr M Fernandes (Plaintiffs)