Bechara v Sotrip Pty Ltd [2006] NSWSC 208

New South Wales Supreme Court

CITATION : Bechara v Sotrip Pty Ltd [2006] NSWSC 208

HEARING DATE(S) : 27/03/06

JUDGMENT DATE : 30 March 2006

JURISDICTION : Equity Division Corporations List

JUDGMENT OF : Barrett J

DECISION : Adjournment refused

CATCHWORDS : CORPORATIONS - winding up application - application for adjournment - adjournment refused - no matter of principle

LEGISLATION CITED : Corporations Act 2001 (Cth), ss.440A, 459C

Creevey v Deputy Commissioner of Taxation (1996) 19 ACSR 456 CASES CITED : Deputy Commissioner of Taxation v Bradley Keeling Management Pty Ltd (2003) 44 ACSR 377 TCS Management Pty Ltd v CTTI Solutions Pty Ltd [2001] NSWSC 830

Buddy Bechara - Plaintiff PARTIES : Sotrip Pty Ltd - Defendant Gino Cassaniti - Creditor

FILE NUMBER(S) : SC 1056/06

Mr J.M. White - Plaintiff COUNSEL : Mr P.M. Fordyce, Solicitor - Defendant Mr D.A. Allen - Creditor

SOLICITORS : Harris & Harris - Plaintiff PMF Legal - Defendant

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

BARRETT J

THURSDAY, 30 MARCH 2006

1056/06 BUDDY BECHARA v SOTRIP PTY LTD JUDGMENT 1 I have before me an application for adjournment of an originating process seeking a winding up order. The application is made by the defendant company (Sotrip Pty Ltd) and is supported by a creditor (Mr Gino Cassaniti). The application is opposed by the plaintiff (Mr Buddy Bechara). Winding up is sought on the grounds of insolvency, a presumption of insolvency having arisen pursuant to s.459C of the Corporations Act 2001 (Cth) in consequence of non-satisfaction of a statutory demand. 2 Relevant chronology is as follows: 11 January 2006 - Winding up application filed (returnable on 3 March 2006) 22 February 2006 - Sole director of defendant appoints administrator under Part 5.3A 3 March 2006 - Winding up application adjourned to 24 March 2006