In the matters of University Co-Operative Bookshop Ltd (in liq) and Co Info Pty Ltd (in liq) [2024] NSWSC 1034

Supreme Court New South Wales

Medium Neutral Citation: In the matters of University Co-Operative Bookshop Ltd (in liq) and Co Info Pty Ltd (in liq) [2024] NSWSC 1034 Hearing dates: 9 August 2024 Date of orders: 16 August 2024 Decision date: 16 August 2024 Jurisdiction: Equity - Corporations List Before: Black J Decision: Second and Third Plaintiffs found to have been insolvent for the whole of the period from 25 May 2019 to 24 November 2019. Catchwords: CORPORATIONS – Winding up – Voidable transactions – Separate question as to solvency of company – Whether entities were insolvent during the Relation-Back Period. Legislation Cited: - Co-operation Act 1932 (NSW) - Co-Operatives (Adoption of National Law) Act 2012 (NSW) - Corporations Act 2001 (Cth), ss 95A, 588FA, 588FC, 588FE and 588F Cases Cited: - Australian Securities and Investments Commission v Plymin (No 1) (2003) 175 FLR 124; (2003) 46 ACSR 126; [2003] VSC 123 - Elliott v Australian Securities and Investments Commission (2004) 10 VR 369; (2004) 48 ACSR 621; [2004] VSCA 54 - Quick v Stoland Pty Ltd (1998) 87 FLR 371; 157 ALR 615; (1998) 29 ACSR 130 - Re BBY Ltd (Receivers and Managers Appointed) (in liq) and BBY Holdings Pty Ltd (Receivers and Managers Appointed) (in liq) (2022) 409 ALR 558; [2022] NSWSC 29 - Re Bias Boating Pty Limited (recs and mgrs apptd) (in liq) [2018] NSWSC 1977 - Re Custom Bus Australia Pty Limited (in liq) [2021] NSWSC 1036 - Re Harmony Homes Pty Ltd (in liq) (No 2) [2023] NSWSC 816 - Re Pacific Plumbing Group Pty Ltd (in liq) [2024] NSWSC 34 - Re Swan Services Pty Limited (in liq) [2016] NSWSC 1724 - Southern Cross Interiors Pty Ltd (in liq) v Deputy Commissioner of Taxation (2001) 53 NSWLR 213; (2001) 39 ACSR 305; [2001] NSWSC 621 - Sutherland & Anor as joint liquidators of Australian Coal Technology v Hanson Construction Materials Pty Ltd [2009] NSWSC 232 - SX Projects Pty Ltd (in liq) v Battaglia [2018] NSWSC 1830 Category: Procedural rulings Parties: Philip Patrick Carter, Andrew John Scott and Daniel Austin Walley in their capacity as joint and several liquidators of University Co-operative Bookshop Ltd (in liq) and Co Info Pty Ltd (in liq) (First Plaintiffs) University Co-operative Bookshop Ltd (in liq) Second Plaintiff) Co Info Pty Ltd (in liq) (Third Plaintiff) Cengage Learning Australia Pty Ltd (First Defendant) and others Representation: Counsel: D Krochmalik/P Kucharski (Plaintiffs) E L Beechey (First Defendant)