NSW Caselaw
New South Wales Supreme Court
CITATION : TOLCHER & ORS v JOHN DANKS AND SON PTY LTD [2007] NSWSC 1207
HEARING DATE(S) : 2-3/10/2007
JUDGMENT DATE : 1 November 2007
JURISDICTION : Equity
JUDGMENT OF : Bryson AJ at 1
DECISION : (1) Give judgment for the plaintiffs for $140,000.00 with costs; (2) Reserve further consideration of interest.
CATCHWORDS : CORPORATIONS - liquidation - unfair preferences - in June 2005 the company (hardware store) renegotiated repayment of its debt to its major supplier of hardware stock - about $300,000 owing: repayments $7,000 per week and stock purchases COD - weekly payments thereafter meant that debt was falling but ageing - additional charges for franchise fees interest and services but not for goods - administration on 21 February 2006, liquidation on 21 March 2006, claim to recover weekly payments from 22 August 2005 onwards $140,000 as unfair preferences - issues of insolvency and suspicion of insolvency as of June 2005 and later - decision on facts - judgment for $140,000 as unfair preference.
LEGISLATION CITED : Corporations Act
Cooks Constructions Pty Ltd v Brown (2004) 49 ACSR 62 CASES CITED : Rodgers v Rumortex [1999] NSWSC 658 Sandell v Porter (1996) 115 CLR 666
Raymond George Tolcher - First Plaintiff PARTIES : Robert William Whitton - Second Plaintiff Waddell & Son Pty Ltd (In Liq) - Third Plaintiff John Danks and Son Proprietary Ltd - Defendant
FILE NUMBER(S) : SC 4797/2006
COUNSEL : S. Golledge - Plaintiffs R.D. Marshall - Defendant
SOLICITORS : Nash O'Neill Tomko Lawyers - Plaintiffs Braye Cragg Solicitors - Defendant
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