In the matter of Rio Dorado Limited [2023] NSWSC 1398

Supreme Court New South Wales

Medium Neutral Citation: In the matter of Rio Dorado Limited [2023] NSWSC 1398 Hearing dates: 10 November 2023 Date of orders: 10 November 2023 Decision date: 10 November 2023 Jurisdiction: Equity - Corporations List Before: Black J Decision: Decline to adjourn winding up application and winding up order made Catchwords: CORPORATIONS — Winding up — Practice and procedure — Application to adjourn winding up application under Corporations Act 2001 (Cth) s 440A(2) — Where administrator appointed shortly before winding up proceedings — Where winding up application previously opposed on ground of solvency — Short adjournment sought for several purposes — Whether adjournment in creditors' interest CORPORATIONS — Winding up — Failure to comply with creditor's statutory demand — Presumption of insolvency — Where no solvency evidence led by Company Legislation Cited: - Corporations Act 2001 (Cth), ss 180, 181, 440A, 459S, 588G - Evidence Act 1995 (NSW), s 136 Cases Cited: - Australian Securities and Investments Commission v Lanepoint Enterprises Pty Ltd (2011) 244 CLR 1; [2011] HCA 18 - Re Brew Still Pty Ltd (admin apptd) [2023] NSWSC 256 Category: Principal judgment Parties: Featherstone Enterprises Pty Ltd as trustee for the Rutherford Harris Family Trust (Plaintiff/Respondent) Rio Dorado Limited (Defendant/Applicant) Representation: Counsel: M Rose (Plaintiff/Respondent) M Rosenblatt (Solicitor) (Defendant/Respondent) J Wheeldon (direct brief) (F Belli - Supporting Creditor) R Harvey (Dr J Barron, Luminos 7 Pty Ltd -Supporting Creditors) C Smith (Solicitor) (J Strauss - Supporting Creditor) S Lipp (T Cuthbertson, G Mares, N Lindsay - directors)