Wellnora Pty Ltd v Fiorentino [2008] NSWSC 483

New South Wales Supreme Court

CITATION : Wellnora Pty Ltd v Fiorentino [2008] NSWSC 483

HEARING DATE(S) : 14/04/08

JUDGMENT DATE : 20 May 2008

JURISDICTION : Equity Division Corporations List

JUDGMENT OF : Barrett J

DECISION : Statutory demand set aside. Defendant to pay plaintiff's costs.

CATCHWORDS : CORPORATIONS - winding up - statutory demand - application for order setting aside - whether genuine dispute as to existence of debt for remuneration of administrator of deed of company arrangement - where remuneration quantified by court order - no statutory provision requiring company subject to deed to pay deed administrator's remuneration - deed itself states that deed administrator entitled to remuneration "out of" specified funds and assets - whether "debt" thereby created - deed also states that, if deed terminated, remuneration to be paid by company - question as to statutory effect of such provision after deed terminated - whether source of debt - whether court should on present application choose between competing contentions

LEGISLATION CITED : Corporations Act 2001 (Cth), ss 443D, 443E(1), 443F(1), 444B, 444D, 444E, 444G(a), 444G(c), 444H, 445(c), 445H, 449E, 459G, 459H(1)(a), 459H(1)(b), 459H(5), 473(3), 495(1), 499(3), 556 Corporations Amendment (Insolvency) Act 2007 (Cth)

CATEGORY : Principal judgment

Arcfab Pty Ltd v Boral Ltd [2002] NSWSC 1188; (2002) 43 ACSR 573 BBX Holdings Pty Ltd v American Home Assurance Co [2007] NSWSC 549 Bidald Consulting v Miles Special Builders [2006] NSWSC 434 Chief Commissioner of Stamp Duties v Buckle [1998] HCA 4; (1998) 192 CLR 226 Cinema Plus Ltd v Australia and New Zealand Banking Group Ltd [2000] NSWCA 195; (2000) 49 NSWLR 513 Cresvale Far East Ltd v Cresvale Securities Ltd [2001] NSWSC 791; (2001) 39 ACSR 622 Delnorth Pty Ltd v State Bank of New South Wales (1995) 17 ACSR 379 Deputy Commissioner of Taxation v Wellnora Pty Ltd [2007] FCA 1234; (2007) 163 FCR 232 Eyota Pty Ltd v Hanave Pty Ltd (1994) 12 ACSR 785 CASES CITED : Jem Developments Pty Ltd v Hansen Yuncken Pty Ltd [2006] NSWSC 1308 Kyle House Pty Ltd v ACN 000 016 213 Pty Ltd [2007] NSWSC 224 Lifestyle Retirement Projects No 2 Pty Ltd v Parisi Homes Pty Ltd [2005] NSWSC 705 Lombe v Wagga Leagues Club Ltd [2006] NSWSC 3; (2006) 56 ACSR 387 MYT Engineering Pty Ltd v Mulcon Pty Ltd [1999] HCA 24; (1999) 195 CLR 636 RJK Enterprises Pty Ltd v Webb [2006] QSC 101; [2006] 2 QdR 593 Spacorp Australia Pty Ltd v Myer Stores Ltd [2001] VSCA 89; (2001) 19 ACLC 1270 Sutherland v Rahme Enterprises Pty Ltd [2003] NSWSC 673; (2003) 46 ACSR 458 Tatlers.com.au Pty Ltd v Davis [2007] NSWSC 835; (2007) 213 FLR 109 W & P Reedy Pty Ltd v Macadams Baking Systems (Pty) Ltd [2007] NSWCA 146 Worrall v Harford (1802) 8 Ves 4; (1802) 32 ER 250