Shakespeares Pie Co Australia Pty Ltd v Multipye Pty Ltd [2005] NSWSC 1338

New South Wales Supreme Court

CITATION : Shakespeares Pie Co Australia Pty Ltd v Multipye Pty Ltd [2005] NSWSC 1338

HEARING DATE(S) : 07/11/05, 24/11/05 Written submissions: 10/11/05, 14/11/05, 28/11/05, 30/11/05

JUDGMENT DATE : 20 December 2005

Equity Division JURISDICTION : Corporations List

JUDGMENT OF : Barrett J

DECISION : Interlocutory process dismissed with costs

CATCHWORDS : CORPORATIONS - winding up in insolvency - winding up application - whether leave should be granted to defendant to rely on grounds that were or could have been relied on in seeking to have statutory demand set aside - failure of defendant to show grounds material to proof of solvency - failure of defendant to show explanation for non-reliance on grounds which statutory demand challenged - application by defendant to join its shareholders as co-defendants - stated intention of shareholders to rely on grounds of defence not open to defendant - application by defendant for stay of winding up application pending determination of appeal against refusal to set aside statutory demand - period for compliance with statutory demand expired - no point in stay

Corporations Act 2001 (Cth) ss.459C, 459F, 459G, 459H, 459S LEGISLATION CITED : Supreme Court (Corporations) Rules 1999 , rule 2.13(1), (3) Uniform Civil Procedure Rules 2005, rule 6.24

Biron Capital Ltd v Velowing Pty Ltd [2003} NSWSC 1181 Braams Group Pty Ltd v Miric (2002) 44 ACSR 124 Buckland Products Pty Ltd v Deputy Commissioner of Taxation [2003] VSCA 85 Chief Commissioner of Stamp Duties v Paliflex Pty Ltd [1999] NSWSC 15 CASES CITED : David Grant & Co Pty Ltd v Westpac Banking Corporation (1995) 184 CLR 265 Goman v Scope Data Systems Pty Ltd [2004] NSWSC 314 Perpetual Nominees Ltd v Masri Apartments Pty Ltd (2004) 49 ACSR 719 Switz Pty Ltd v Glowbind Pty Ltd (2000) 33 ACSR 723