Hansmar Investments Pty Ltd v Perpetual Trustee Company Ltd [2007] NSWSC 103

Reported Decision : 61 ACSR 321 (2007) 25 ACLC 282

New South Wales Supreme Court

CITATION : Hansmar Investments Pty Ltd v Perpetual Trustee Company Ltd [2007] NSWSC 103 This decision has been amended. Please see the end of the judgment for a list of the amendments.

HEARING DATE(S) : 08/11/06, 20/11/06

JUDGMENT DATE : 23 February 2007

JURISDICTION : Equity Division Corporations List

JUDGMENT OF : White J

DECISION : 1. Order that the statutory demand of the defendant dated 1 June 2006 be set aside; 2. Order the defendant to pay the plaintiff's costs.

CATCHWORDS : CORPORATIONS - Winding-Up - Statutory demand - Whether Graywinter principle is satisfied if ground of challenge is raised in the supporting affidavit by a reasonably available inference - Whether demand for liquidated damages was a demand for a debt - Where claim arose under contract for sale made by mortgagee in exercising power of sale - Mortgagee was custodian for a responsible entity of a managed investment scheme - Where there was a change of custodian and transfer of mortgage, but no assignment of chose in action by earlier mortgagee - Whether genuine dispute that debt not owed to new custodian claiming to be the creditor.

Corporations Act 2001 (Cth) Conveyancing Act 1919 (NSW) LEGISLATION CITED : Legal Profession Act 1987 (NSW) Legal Profession Regulations 1994 Sale of Goods Act 1923 (NSW) Trustee Act 1925 (NSW)

Graywinter Properties Pty Ltd v Gas & Fuel Corporation Superannuation Fund (1986) 70 FCR 452 Process Machinery Australia Pty Ltd v ACN 057 262 590 Pty Ltd [2002] NSWSC 45 Tokich Holdings Pty Ltd v Sheridan Constructions (NSW) Pty Ltd (in liq) (2004) 185 FLR 130, 22 ACLC 955 Elm Financial Services Pty Ltd v MacDougal [2004] NSWSC 560 POS Media v B Family Pty Ltd (2003) 21 ACLC 533 Energy Equity Corporation v Sinedie Pty Ltd (2001) 166 FLR 179 Callite Pty Ltd v Adams [2001] NSWSC 52 Financial Solutions Australasia Pty Ltd v Predella Pty Ltd (2002) 167 FLR 106; 20 ACLC 1,286 CASES CITED : Jampco Pty Ltd v Cameron (No. 2) (1985) 3 NSWLR 391 Rothenberger Australia Pty Ltd v Poulsen (2003) 58 NSWLR 288 Alexander v Ajax Insurance Co Ltd [1956] VLR 436 C G & M Pty Ltd & Ors v AHR Constructions Pty Ltd [1992] ANZ ConvR 370 AHR Constructions Pty Ltd v Maloney [1994] 1 Qd R 460 J Boag & Son Brewing Pty Ltd v Bridon Investments Pty Ltd (2001) 10 Tas R 26 Butt, The Standard Contract for Sale of Land in New South Wales, 2 ed Chitty on Pleading, 5 ed (1831) Vol 1 Box Valley Pty Ltd v Kidd (2006) 24 ACLC 471 Australian Securities and Investments Commission v Edwards (2005) 220 ALR 148; 57 ACSR 147