NSW Caselaw
New South Wales Supreme Court
CITATION : PASCOE & ANOR v. DUARTE [2006] NSWSC 1233
HEARING DATE(S) : 6 and 7 June 2006
JUDGMENT DATE : 22 November 2006
JURISDICTION : Equity
JUDGMENT OF : Hall J at 1
DECISION : (a) I propose to enter judgment in favour of the plaintiffs against the defendant in the sum of $1,160,502.14. (b) I will allow the parties 14 days to make any written submission in relation to the question of costs and interest. (c) I will make formal orders following expiration of the period referred to in (b).
CATCHWORDS : CORPORATION – IN LIQUIDATION – director – question whether monies paid to sole director were loan monies or monies in lieu of wages – absence of contemporaneous records such as wage books or other documents evidencing regular payments of salary or wages – characterisation of loan monies – whether drawings made by or on behalf of the defendant were remuneration or loan monies
LEGISLATION CITED : Corporations Act 2001 (Cth) Income Tax Assessment Act 1936
Bernard Elsey; FCT v. Whitford's Beach Pty. Limited (1982) 150 CLR 355 Federal Commissioner of Taxation v. Steeves Agnew & Co. (Vic.) Pty. Limited (1951) 82 CLR 408 CASES CITED : Podjie Agencies Pty. Limited v. Vinidex Tubemakers Pty. Limited [2000] NSWCA 105 Integrated Computer Services Pty. Limited v. Digital Equipment Corporation (Australia) Pty. Limited (1988) 5 BPR 11,110 Schmierer v. Taouk [2004] NSWSC 345 Cambridge Electronics v. McMaster [2005] NSWSC 198
PARTIES : SCOTT DARREN PASCOE (IN HIS CAPACITY AS LIQUIDATOR OF PIVOTAL (AUSTRALIA) PTY. LIMITED (IN LIQ.)) & ANOR v. JOE DUARTE
FILE NUMBER(S) : SC No. 50017 of 2005
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