Consolidated Constructions P/L ; In the matter of The Satellite Group Limited [2000] NSWSC 984

Reported Decision : [2000] 35 ACSR 565

New South Wales Supreme Court

CITATION : Consolidated Constructions P/L ; In the matter of The Satellite Group Limited [2000] NSWSC 984 CURRENT JURISDICTION: Equity FILE NUMBER(S) : SC 3508/00 HEARING DATE(S) : 20 October 2000 JUDGMENT DATE : 20 October 2000

PARTIES : Consolidated Constructions Pty Limited ACN 008 699 330 (Plaintiff/Respondent) The Satellite Group Limited ACN 087 721 079 (Defendant/Applicant) JUDGMENT OF : Santow J

J M Ireland, QC (Plaintiff/Respondent) COUNSEL : I M Wales, SC/P B Walsh (Defendant/Applicant) P M Wayne (Solicitor) (two Supporting Creditors) Baker & McKenzie (Plaintiff/Respondent) SOLICITORS : Someville & Co (Defendant/Applicant) Peter M Wayne & Associates (two Supporting Creditors) CATCHWORDS : CORPORATIONS — s459S of Corporations Law — Threshold requirement of s459S(2) whereby the relevant debt must be pivotal to solvency — Whether company solvent in particular case — Other discretionary factors in giving or withholding leave. LEGISLATION CITED : Corporations Law s459S Home Building Act 1989 (NSW) s6(2), s10, and Regulation 6(b) CASES CITED : Pavey & Mathews Pty Limited v Paul (1987) 162 CLR 221 Switz Pty Limited v Glowbind Pty Limited (2000) 48 NSWLR 661 DECISION : Defendant's application fails. Leave pursuant to s459S(1) of Corporations Law declined. Costs in favour of Respondent.

IN THE SUPREME COURT OF NEW SOUTH WALES IN EQUITY

SANTOW J

No. 3508/00 In the matter of The Satellite Group Limited ACN 087 721 079 Consolidated Constructions Pty Limited ACN 008 699 330 Plaintiff The Satellite Group Limited ACN 087 721 079 Defendant