NSW Caselaw
New South Wales Supreme Court
CITATION : Clawson Holdings Pty Ltd v Citigroup Global Markets Australia Pty Ltd [2008] NSWSC 537
HEARING DATE(S) : 28/05/08
JUDGMENT DATE : 4 June 2008
JURISDICTION : Equity Division Corporations List
JUDGMENT OF : Barrett J
DECISION : Originating process dismissed with costs
CATCHWORDS : CORPORATIONS - winding up - statutory demand - application for order setting aside - whether genuine dispute as to existence or amount of debt - turns on own facts - no matter of principle
LEGISLATION CITED : Corporations Act 2001 (Cth), s 459G, 459H(1)(a), (b) and (5)
CATEGORY : Principal judgment
CASES CITED : Eyota Pty Ltd v Hanave Pty Ltd (1994) 12 ACSR 785
PARTIES : Clawson Holdings Pty Limited - Plaintiff Citigroup Global Markets Australia Pty Limited - Defendant
FILE NUMBER(S) : SC 1527/08
COUNSEL : Mr D E Grieve QC/Mr R M Higgins - Plaintiff Mr M A Pembroke SC/Mr S E Gray - Defendant
SOLICITORS : RBHM Commercial Lawyers - Plaintiff HWL Ebsworth Lawyers - Defendant
IN THE SUPREME COURT OF NEW SOUTH WALES EQUITY DIVISION CORPORATIONS LIST
BARRETT J
WEDNESDAY 4 JUNE 2008
1527/08 CLAWSON HOLDINGS PTY LIMITED v CITIGROUP GLOBAL MARKETS AUSTRALIA PTY LIMITED
JUDGMENT 1 The plaintiff makes application under s 459G of the Corporations Act 2001 (Cth) for an order setting aside a statutory demand dated 21 January 2008 served on it by the defendant. 2 The debt or alleged debt the subject of the statutory demand is described in its schedule as follows: " SCHEDULE Description of the Debt Amount of the Debt Monies due and payable pursuant to a Flexible Investment Facilities agreement dated on or about 17 May 2006, particulars of which are as follows: Variable Interest Loan $8,394,637.98 Total Amount you have borrowed $8,394,637.98 Value of Unsettled Transactions $ -3,435,447.14 Total Borrowings after Unsettled $4,959,190.84 Transactions Margin Call/Buffer Includes Unsettled $4,959,190.84 Transactions Total Amount $4,959,190.84
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