Tokich Holdings P/L v Sheraton Constructions (NSW) P/L (In Liq)CGU Workers Compensation (NSW) Ltd v Tokich Holdings P/L; Application of Sheraton Constructions (NSW) P/L (In Liq) [2004] NSWSC 527

Reported Decision : (2004) 22 ACLC 955

New South Wales Supreme Court

CITATION : Tokich Holdings P/L v Sheraton Constructions (NSW) P/L (In Liq)CGU Workers Compensation (NSW) Ltd v Tokich Holdings P/L; Application of Sheraton Constructions (NSW) P/L (In Liq) [2004] NSWSC 527 HEARING DATE(S) : 27/05/04, 02/06/04, 04/06/04 JUDGMENT DATE : 21 June 2004

JUDGMENT OF : White J DECISION : In proceedings No. 2447/04: 1. Set aside the statutory demand dated 22 March 2004 served by the defendant on the plaintiff; 2. the defendant pay the plaintiff's costs. In proceedings No. 6104/03: 1. Refuse the application of Sheraton Constructions (NSW) Pty Limited (In Liquidation) that it be substituted as plaintiff on the Originating Process; 2. Sheraton Constructions (NSW) Pty Limited (In Liquidation) pay the defendant's costs of the Interlocutory Process; 3.dismiss the Originating Process with no further orders as to costs.

CATCHWORDS : Companies - Winding-up application - Statutory demand for payment - Whether a genuine dispute as to existence of debt - Evidence admissible an issue of genuine dispute - Whether grounds of dispute precluded by supporting affidavit - Application to be substituted as creditor - Company presumed to be insolvent but debt genuinely disputed - Substitution refused. Corporations Act 2001 (Cth) LEGISLATION CITED : Evidence Act 1995 (NSW) Joint Stock Companies Act 1856 (UK) Graywinter Properties Pty Ltd v Gas & Fuel Corp Superannuation Fund (1996) 70 FCR 452 Mibor Investments Pty Ltd v Commonwealth Bank of Australia [1994] 2 VR 290 Geoffrey W Hill & Associates v King (1992) 27 NSWLR 228 John Holland Construction and Engineering Pty Limited v Kilpatrick Green Pty Limited (1994) 14 ACSR 250 Reale Bros Pty Ltd v Reale [2003] NSWSC 666 SMEC International Pty Ltd v CEMS Engineering Inc (2001) 38 ACSR 595 Eyota Pty Limited v Hanave Pty Limited (1994) 12 ACSR 785 Cary v Gerrish (1801) 4 Esp. 9, 170 E.R. 624 Aubert v Walsh (1812) 4 Taunt. 294, 128 E.R. 342 Welch v Seaborn (1816) 1 Stark 474, 171 E.R. 534 Heydon v Perpetual Executors Trustees & Agency Co (WA) Ltd (1930) 45 CLR 111 Joaquin v Hall [1976] VR 788 Jenkins v Wynen [1992] 1 Qd R 40 Motor Auction Pty Ltd v John Joyce Wholesale Cars Pty Ltd (1997) 23 ACSR 647 Coshott v Sakic (1998) 44 NSWLR 667 Energy Equity Corporation Limited v Sinedie Pty Limited (2001) 166 FLR 179 Timely Response to Statutory Demand: Graywinter Revisited, L Aitken & S Armstrong (2003) 77 ALJ 434 Process Machinery Australia Pty Limited v ACN 057 262 590 Pty Ltd (2002) NSWSC 45 POS Media Online Limited v B Family Pty Limited (2003) 21 ACLC 533 Financial Solutions Australasia Pty Limited v Predella Pty Limited (2002) 26 WAR 306; 167 FLR 106 Callite v Adams [2001] NSWSC 52 ACP Syme Magazines Pty Limited v Tri Automotive Components Pty Limited (1997) 74 FCR 372 CASES CITED : Paspalis Hotel Investments Pty Limited v Ambir Pty Limited [2003] NTSC 68 QBS Pty Ltd [1967] Qd R 218 Brinds Ltd v Offshore Oil NL (1985) 60 ALJR 185 Community Development Pty Ltd v Engwirda Construction Co (1969) 120 CLR 455 Chief Commissioner of Stamp Duties v Paliflex (1999) 17 ACLC 467 State Bank of NSW v Tela Pty Limited (No. 2) (2002) 188 ALR 702 Braams Group Pty Limited v Miric (2002) 44 ACSR 124 Bibby Financial Services Australia Pty Limited v Woolf Industries Australia Pty Limited [2004] NSWSC 134 In re A Private Company [1935] NZLR 120 Niger Merchants Co. v Capper (1877) 18 Ch D 557 The Rydydefed Colliery Co., Glamorganshire Ltd, Ex parte (1858) 3 De G & J 80; 44 E.R. 1199 Mann v Goldstein [1968] 1 WLR 1091 Ron Pritchard Pty Ltd v Horwitz Grahame Pty Ltd (1988) 6 ACLC 258 CVC Investments Pty Ltd v P & T Aviation Pty Ltd (1989) 18 NSWLR 295 Re Bond Corporation Holdings Ltd (1990) WAR; 1 ACSR 350 Taylor Bryant Pty Ltd v Wright Critical Care Pty Ltd (1995) 15 ACSR 564 Roy Morgan Research Centre Pty Ltd v Wilson Market Research Pty Ltd (1996) 39 NSWLR 311 Re Synthetic Oils Pty Ltd; Re Australasian High Technology Ventures Pty Ltd (1989) 8 ACLC 95 Tecma Pty ltd v Solah Blue Metal Pty Ltd (1988) 6 ACLC 1, 080 McPherson, The Law of Liquidation, 3 ed (Professor O'Donovan edition) p 63 Kelvingrove (1993) Pty Ltd v Paratoo Pty Ltd (1998) 16 ACLC 964 Beverage Holdings Pty Ltd v Greater Pacific Investments Pty Ltd (1990) 3 ACSR 743 South Eastern Water Ltd v Kitoria Pty Ltd (1996) 21 ACSR 465; 14 ACLC 1 PARTIES : Tokich Holdings Pty Limited v Sheraton Constructions (NSW) Pty Limited (In Liquidation) CGU Workers Compensation (NSW) Limited v Tokich Holdings Pty Limited; Application of Sheraton Constructions (NSW) Pty Limited (In Liquidation) FILE NUMBER(S) : SC 2447/04; 6104/03 COUNSEL : Pl: D Ash Def: J Johnson SOLICITORS : Pl: David Geddes Def: N/A