Iso Lilodw' Aliphumeleli Pty Limited (In Liq) & Anor v Commissioner of Taxation & 2 Ors [2002] NSWSC 644

Reported Decision : (2002) 42 ACSR 561

New South Wales Supreme Court

CITATION : Iso Lilodw' Aliphumeleli Pty Limited (In Liq) & Anor v Commissioner of Taxation & 2 Ors [2002] NSWSC 644 CURRENT JURISDICTION: Equity Division FILE NUMBER(S) : SC 2077/99 HEARING DATE(S) : 24/06/02, 25/06/02, 26/06/02, 27/06/02 JUDGMENT DATE : 2 August 2002

Iso Lilodw' Aliphumeleli Pty Limited (In Liquidation) - First Plaintiff Steven Nicols - Second Plaintiff PARTIES : Commissioner of Taxation - Cross-Claimant Peter David Prentice - First Cross-Defendant Gordon Theodore Hothersall Getley - Second Cross-Defendant JUDGMENT OF : Davies AJ

No Appearance - First Plaintiff No Appearance - Second Plaintiff COUNSEL : M R Aldridge SC/P Rodionoff - Cross-Claimant R McKeand - First Cross-Defendant In Person - Second Cross-Defendant No Appearance - First Plaintiff SOLICITORS : No Appearance - Second Plaintiff Australian Government Solicitor - Cross-Claimant Holman Webb - First Cross-Defendant CATCHWORDS : CORPORATIONS - Insolvent trading - whether company unable to pay its debts as and when they fell due - Reasonable expectation - Reliance upon information provided. Corporations Act 2001,ss 95A, 588FC, 588FE, 588FF, 588FGA, 588FGB LEGISLATION CITED : Income Tax Assessment Act 1936 (Cth), ss 222ALA, 22AF(5) Acts Interpretation Act 1901 (Cth), s 10 Bankruptcy Act 1924 (Cth) Hillig v Federal Commissioner of Taxation (2000) 46 ATR 25 Southern Cross Interiors Pty Limited (In Liq) v Deputy Commissioner of Taxation (2001) 39 ACSR 305 Dunn v Shapowloff [1978] 2 NSWLR 235 Shapowloff v Dunn (1981) 148 CLR 72 CASES CITED : Taylor v Powell (1993) 113 ALR 374 Manpac Industries Pty Ltd v Ceccattini [2002] NSWSC 330 Re New World Alliance Pty Limited (Rec and Mgr apptd); Sycotex Pty Limited v Baseler (No 2) (1994) 51 FCR 425 Sandell v Porter (1966) 115 CLR 666 Nilsen Development Laboratories Pty Ltd v Federal Commissioner of Taxation (1981) 144 CLR 616 DECISION : Refer paragraph 93