John Frederick Lord as Liquidator of Silverline Technologies Pty Limited [2005] NSWSC 620

Reported Decision : (2005) 23 ACLC 1320

New South Wales Supreme Court

CITATION : John Frederick Lord as Liquidator of Silverline Technologies Pty Limited [2005] NSWSC 620

HEARING DATE(S) : 30/05/05

JUDGMENT DATE : 29 June 2005

Equity Division JURISDICTION : Corporations List

JUDGMENT OF : Barrett J

DECISION : Direction to liquidator

CATCHWORDS : CORPORATIONS - charge given by Australian company to New Zealand company - subsequent deregistration of New Zealand company - subsequent winding up of Australian company - whether deregistration effected extinguishment of any debt owing to New Zealand company - common law principles concerning dissolved corporations considered - displacement thereof by New Zealand statute law - whether sufficient evidence that debt satisfied - whether register of charges should be rectified - direction that liquidator need not take account of charge

Companies Act 1993 (NZ), ss.15, 318, 324, 330(2), 331(1) LEGISLATION CITED : Corporations Act 2001 (Cth), ss.274, 479(3), 1322(4)(b)

Australian Securities Commission v SIB Resources NL (1991) 5 ACSR 411 Holli Managed Investments Pty Ltd v Australian Securities Commission (1998) 30 ACSR 113 Re Austral Family Homes Pty Ltd (1992) 28 NSWLR 247 Re Graf Holdings Pty Ltd; Larking v Australian Securities and Investments Commission [1999] NSWSC 217 Re Higginson and Dean; Ex parte Attorney-General [1899] 1 QB 325 Re New South Wales Tennis Association Ltd [2004] NSWSC 175 CASES CITED : Re New South Wales Tennis Association Ltd (No 2) [2004] NSWSC 807 Re Sir Thomas Spencer Wells; Swinburne-Hanham v Howard [1933] Ch 29 Re Usines de Melle & Firmin Boinot's Patent (1954) 91 CLR 42 Russian and English Bank and Florance Montefiore Guedalla v Baring Brothers and Company Limited [1936] AC 405 Taylor v Sanders [1937] VLR 62 Webb v National Australia Bank Ltd (1990) 5 BPR 11,395