Hudson Investment Group v Mower Specialists Association of Australia [2005] NSWSC 459

New South Wales Supreme Court

CITATION : Hudson Investment Group v Mower Specialists Association of Australia [2005] NSWSC 459

HEARING DATE(S) : 9 May 2005

JUDGMENT DATE : 9 May 2005

JURISDICTION : Equity

JUDGMENT OF : Campbell J

DECISION : Statutory demand not set aside. Time for compliance extended by 14 days.

CATCHWORDS : CORPORATIONS - winding up - statutory demand - application to set aside - statutory demand based on guaranteed debt - circumstances in which guarantor of a specific debt can avail itself of cross-claims of the principal debtor against the creditor - whether on the facts any plausible contention that such a cross-claim exists - whether "some other reason" within section 459J(1)(b) Corporations Act to set demand aside - appropriate time by which to extend time for compliance with statutory demand

LEGISLATION CITED : Corporations Act 2001 (Cth)

Covino v Bandag Manufacturing Pty Ltd [1983] 1 NSWLR 237 Cellulose Products Pty Ltd v Truda (1970) 92 WN (NSW) 561 CASES CITED : Eyota Pty Ltd v Hanave Pty Ltd (1994) 12 ACSR 785 Langford Concrete Pty Ltd v Findlay [1978] 1 NSWLR 14

Hudson Investment Group Limited - Plaintiff PARTIES : Mower Specialists Association of Australia Limited (formerly Mower Specialists Association of Australia Co-operative Limited) - Defendant

FILE NUMBER(S) : SC 1491/05

P Walsh - Plaintiff COUNSEL : A J Abadee - Defendant

Deacons - Plaintiff SOLICITORS : Hunt & Hunt - Defendant

LOWER COURT JURISDICTION :

IN THE SUPREME COURT OF NEW SOUTH WALES EQUITY DIVISION CORPORATIONS LIST

CAMPBELL J

MONDAY 9 MAY 2005