NSW Caselaw
Reported Decision : (2007) 25 ACLC 1,317
New South Wales Supreme Court
CITATION : Farnsworth v ASIC [2007] NSWSC 866
HEARING DATE(S) : 24 July, 6 & 27 August 2007 JUDGMENT OF : Hammerschlag J
EX TEMPORE JUDGMENT DATE : 24 July 2007
DECISION : Company reinstated. Orders made as to operation of Pt 5.3A of the Corporations Act 2001 (Cth) with respect to the company
CATCHWORDS : CORPORATIONS - Company deregistered - Deed of company arrangement terminated - Refund of monies paid on proof of debt under deed where proof incorrectly lodged - Monies held by erstwhile administrator - Orders made to reinstate company and as to how Pt 5.3A of the Corporations Act 2001 (Cth) is to operate so as to facilitate resuscitation of deed of company arrangement so as to enable refund monies to be dealt with and necessity to protect accrued rights but also to afford opportunity to creditors who did not prove to be heard.
LEGISLATION CITED : Corporations Act 2001 (Cth) Trustee Act 1925 (NSW)
ACCC v ASIC (2000) 34 ACSR 232 Sims; Re Huon Corporation Pty Limited (admins apptd) (2006) 58 ACSR 620 CASES CITED : Ansett v Mentha (2002) 40 ACSR 389 Re Love (as liquidator of ACN 077 368 257 Ltd) (2003) 44 ACSR 367 Australasian Memory Pty Ltd v Brien (2000) 200 CLR 270
PARTIES : Adam Farnsworth The Australian Securities & Investments Commission for and on behalf of Aust Event Resources Pty Ltd ACN 106 544 996
FILE NUMBER(S) : SC 3221/2007
COUNSEL : A.P. Coleman (Plaintiff) Ex Parte
SOLICITORS : Kemp Strang (Plaintiff)
- 14 - IN THE SUPREME COURT OF NEW SOUTH WALES EQUITY DIVISION CORPORATIONS LIST
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