NSW Caselaw
Reported Decision : 53 ACSR 699 (2005) 23 ACLC 707
New South Wales Supreme Court
CITATION : Australian Winch & Haulage Co Pty Ltd v State Debt Recovery Office [2005] NSWSC 423
HEARING DATE(S) : 29 April, 2005
JUDGMENT DATE : 29 April 2005
JURISDICTION : Equity Division
JUDGMENT OF : Palmer J
DECISION : Summons dismissed.
CATCHWORDS : CORPORATIONS - DEED OF COMPANY ARRANGEMENT - PENALTY - Whether a penalty or fine imposed by a Court is provable under a Deed of Company Arrangement - construction of s.553B(1) Corporations Act.
Bankruptcy Act 1966 (Cth) - s.82(3) LEGISLATION CITED : Corporate Law Reform Bill 1992 - para 85 Corporations Act 2001 (Cth) - s.435A, s.553B
CASES CITED : Victoria v Mansfield (2003) 130 FCR 376
Australian Winch & Haulage Co Pty Ltd (subject to a Deed of Company Arrangement) - Plaintiff PARTIES : State Debt Recovery Office - Defendant
FILE NUMBER(S) : SC 4752/04
T.L. Lee (Sol) - Plaintiff COUNSEL : R.J. Bromwich - Defendant
Terence Lockyer Lee - Plaintiff SOLICITORS : State Crown Solicitor - Defendant
LOWER COURT JURISDICTION :
Ex tempore
1 The Plaintiff in this case raises a short but novel point as to the construction and effect of s.553B of the Corporations Act 2001 (Cth) in the context of a Deed of Company Arrangement. Section 553B provides: " Insolvent companies—penalties and fines not generally provable
(1) Subject to subsection (2), penalties or fines imposed by a court in respect of an offence against a law are not admissible to proof against an insolvent company.
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