NSW Caselaw
New South Wales Supreme Court
CITATION : Australian Liquor Marketers Pty Ltd v Solowave Pty Ltd [2007] NSWSC 501
HEARING DATE(S) : 07/05/07
JUDGMENT DATE : 8 May 2007
JURISDICTION : Equity Division Corporations List
JUDGMENT OF : White J
EX TEMPORE JUDGMENT DATE : 8 May 2007
DECISION : See paragraphs 27-36 of judgment.
CATCHWORDS : CORPORATIONS – Winding up – Application for stay or termination – Whether court should order stay or termination – Where condition for termination of the winding up offered by applicant that applicant release debts in consideration for issue of redeemable preference shares in the company – Where current assets will be sufficient to satisfy current liabilities once loans capitalised – Undertakings to court that debts be released – Interests to be considered – Future creditors – Public interest – Order that winding up of defendant be terminated – (CTH) Corporations Act 2001, s 482
LEGISLATION CITED : Corporations Act 2001 (Cth)
CASES CITED : Ace Contractors & Staff Pty Limited v Westgarth Development Pty Limited [1999] FCA 728 Expile Pty Limited v Jabb's Excavations Pty Limited (2003) 45 ACSR 711
PARTIES : Australian Liquor Marketers Pty Ltd v Solowave Pty Ltd
FILE NUMBER(S) : SC 6286/06
Applicant: A Crossland COUNSEL : Liquidator: S Khouri Connaught Intl Inc: M Dolenec
Applicant: Alexanders Lawyers SOLICITORS : Liquidator: DLA Phillips Fox Connaught Intl Inc: Linde Business Lawyers
IN THE SUPREME COURT OF NEW SOUTH WALES EQUITY DIVISION CORPORATIONS LIST
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