Jem Developments v Hansen Yuncken [2006] NSWSC 1378

Reported Decision : 60 ACSR 393

New South Wales Supreme Court

CITATION : Jem Developments v Hansen Yuncken [2006] NSWSC 1378

HEARING DATE(S) : 11 December 2006

JUDGMENT DATE : 12 December 2006

JURISDICTION : Equity

JUDGMENT OF : Austin J

DECISION : Extension order made; for terms of order, see under heading "Conclusions".

CATCHWORDS : CORPORATIONS - presumption of insolvency through failure to comply with statutory demand - plaintiffs' application to set aside statutory demand dismissed, subject to short extension of compliance period - plaintiffs then apply for further extension of compliance period, to operate during prosecution of appeal against dismissal of application to set aside demand - whether plaintiffs have reasonably plausible grounds of appeal - whether appeal would be rendered nugatory if compliance period were not extended - relevant discretionary considerations - appropriate form of order

LEGISLATION CITED : Corporations Act 2001 (Cth), ss 459C, 459E, 459F, 459G, 459H

Algons Engineering Pty Ltd v Abigroup Contractors Pty Ltd (1997) 14 BCL 215 Australian Beverage Distributors Pty Ltd v Cranswick Premium Wines Pty Ltd (2004) 50 ACSR 544 Buckland Products Pty Ltd v Deputy Commissioner of Taxation [2003] VSCA 85 Equuscorp Pty Ltd v Perpetual Trustees WA Ltd (1997) 25 ACSR 675 Graywinter Management Pty Ltd v Deputy Commission of Taxation (1996) 22 ACSR 636 Jem Developments Pty Ltd v Hansen Yuncken Pty Ltd [2006] NSWSC 1308 CASES CITED : John Shearer Ltd v Gehl Company (1995) 60 FCR 136 Ketrim Pty Ltd v Jaeger Corporation Pty Ltd (2003) 21 ACLC 8 Meehan v Glazier Holdings Pty Ltd (2005) 53 ACSR 2 Ozone Manufacturing Pty Ltd v Deputy Commissioner of Taxation (2006) 94 SASR 269 Pearson's Products Pty Ltd v CP Technologies Pty Ltd [1999] NSWSC 575 Shakespeares Pie Co Australia Pty Ltd v Multipye Pty Ltd [2005] NSWSC 1201 Vista Commercial Construction Pty Ltd v Deputy Commissioner of Taxation (1997) 79 FCR 288