Titchfield Management Ltd v Vaccinoma Inc [2008] NSWSC 1196

Reported Decision : 68 ACSR 448

New South Wales Supreme Court

CITATION : Titchfield Management Ltd v Vaccinoma Inc [2008] NSWSC 1196

HEARING DATE(S) : 27/10/08, 10/11/08

JUDGMENT DATE : 14 November 2008

JURISDICTION : Equity Division Corporations List

JUDGMENT OF : Barrett J

DECISION : Winding up order. Order appointing liquidator.

CATCHWORDS : CORPORATIONS - foreign company - winding up - whether Part 5.7 body - business no longer carried on in Australia but foreign company registration extant - no assets or activities in Australia - company dissolved in place of incorporation - application by creditor for winding up order - whether of any utility - where cogent basis for claims against former directors - sufficient to activate discretion to order local winding up despite dissolution

Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 (US) Bankruptcy Code (US), ss 1501, 1517, 1521(a) LEGISLATION CITED : Corporations Act 2001 (Cth), Division 1 of Part 2D.1, Division 2 of Part 5B.2, Part 5.7, ss 9, 57A, 178(1), 180 to 184, 186, 462(2)(b), 466(2), 556(1)(b), 582(3), 583, 588FE, 588FF(1), 588G, 588M(2), 598, 601CL(1), 601CX Cross-border Insolvency Act 2008 (Cth) UNCITRAL Model Law on Cross Border Insolvency

CATEGORY : Principal judgment

Konamaneni v Rolls Royce Industrial Power (India) Ltd [2002] 1 WLR 1269 Mercantile Credits Ltd v Foster Clark (Australia) Ltd [1964] HCA 66; (1964) 112 CLR 169 Peninsular Group Ltd v Kintsu Co Ltd (1998) 44 NSWLR 534 CASES CITED : Pergamon Press Ltd v Maxwell [1970] 1 WLR 1167 Re Compania Merabello San Nicholas SA [1973] 1 Ch 75 Re The Company or Fraternity of Free Fishermen of Faversham (1887) 36 Ch D 329 Re Wayland as liquidator of ABC Containerline NV [2005] NSWSC 1; (2005) 52 ACSR 750. Russian and English Bank v Baring Brothers and Company Ltd [1936] AC 405