In the matter of Mentmore 313 Pty Ltd; In the matter of NR Pendle Pty Ltd [2024] NSWSC 325

Supreme Court New South Wales

Medium Neutral Citation: In the matter of Mentmore 313 Pty Ltd; In the matter of NR Pendle Pty Ltd [2024] NSWSC 325 Hearing dates: 19 March 2024 Date of orders: 19 March 2024 Decision date: 19 March 2024 Jurisdiction: Equity - Corporations List Before: Black J Decision: Winding up orders made. Catchwords: CORPORATIONS – winding up – application based on failure to comply with creditor's statutory demand – whether creditor's statutory demands were served – whether presumption of insolvency displaced – whether discretion should be exercised not to make winding up order to avoid risk of commercial disadvantage to a secured creditor. Legislation Cited: - Corporations Act 2001 (Cth), ss 95A, 109X, Pt 5.4, ss 459G, 459S, 467 - Evidence Act 2005 (NSW), ss 136, 190 Cases Cited: - Australian Securities and Investments Commission v Lanepoint Enterprises Pty Ltd (2011) 244 CLR 1 - Australian Securities Commission v Marlborough Gold Mines Ltd (1993) 177 CLR 485 - Australian Securities and Investments Commission v Plymin (No 1) (2003) 46 ACSR 126; [2003] VSC 123 - Blatch v Archer (1774) 1 Cowp 63; 98 ER 969 - Expile Pty Ltd v Jabb's Excavations Pty Ltd (2003) 45 ACSR 711 - Gerard Cassegrain & Co Pty Limited v Felicity Cassegrain (2013) 87 NSWLR 284; [2013] NSWCA 453 - Lechmere Financial Corp v Aspermont Ltd [2003] FCA 1138 - McGill v Minskie Holdings Pty Ltd [2000] NSWSC 909 - Ming Tian Real Property Pty Ltd v SGS Platinum Pty Ltd (2020) 145 ACSR 329; [2020] NSWSC 212 - Re Catalina Genetics Pty Ltd (unpublished, 18 March 2024) - Re Dyldam Developments Pty Limited [2019] NSWSC 1518 - Re Edifice Australia Pty Ltd [2017] NSWSC 1620 - Re Fitzgerald Housing Ltd (Restructuring Practitioner apptd) [2023] NSWSC 1481 - Re Futre Developments Pty Ltd (2014) 292 FLR 256; [2014] NSWSC 1712 - Re Gladstone Mortgagee (No 1) Pty Ltd [2015] NSWSC 1551 - Re Pegasus Capital Management Pty Ltd [2011] NSWSC 570 - Re Shaolin Temple Foundation (Australia) Ltd [2016] NSWSC 804 - Re Swan Services Pty Ltd (in liq) [2016] NSWSC 1724 - Re Vangory Holdings Pty Ltd [2015] NSWSC 1809 - TS Recoveries Pty Ltd v Sea-Slip Marinas (Aust) Pty Ltd [2007] NSWSC 1410 Category: Principal judgment Parties: Proceedings 2023/357323 BECL Strategy Holding Ltd (Plaintiff) Mentmore 313 Pty Ltd (Defendant)