LSI Australia v LSI Holdings; LSI Australia v LSI Consulting [2007] NSWSC 1406

Reported Decision : (2007) 25 ACLC 1,602

New South Wales Supreme Court

CITATION : LSI Australia v LSI Holdings; LSI Australia v LSI Consulting [2007] NSWSC 1406

HEARING DATE(S) : 26 November, 4 December 2007

JUDGMENT DATE : 6 December 2007

JURISDICTION : Equity

JUDGMENT OF : Austin J

DECISION : Statutory demands set aside.

CATCHWORDS : CORPORATIONS - winding up - application for order setting aside statutory demand - whether applicant may rely on grounds not mentioned in supporting affidavit ("Graywinter principle") - whether vagueness and ambiguity is a "defect" in a demand - whether, because of such a defect, applicant would suffer substantial injustice if demand is not set aside

LEGISLATION CITED : Corporations Act 2001 (Cth), ss 459G, 459H, 459J

Bentham Management Pty Ltd v Union Finance Pty Ltd [2007] SASC 42 Callite Pty Ltd v Adams [2001] NSWSC 52 Condor Asset Management Ltd v Excelsior Eastern Ltd BC 200509536, [2005] NSWSC 1139 Eyota Pty Ltd v Hanave Pty Ltd (1994) 12 ACSR 785 Graywinter Properties Pty Ltd v Gas & Fuel Corporation Superannuation Fund (1996) 70 FCR 452 CASES CITED : Hansmar Investments Pty Ltd v Perpetual Trustee Co Ltd (2007) 61 ACSR 321 Infact Consulting Pty Ltd v Kyle House Pty Ltd [2007] NSWSC 56 Portrait Express (Sales) Pty Ltd v Kodak (Australasia) Pty Ltd (1996) 20 ACSR 746 POS Media Online Ltd v B Family Pty Ltd [2003] NSWSC 147 Saferack Pty Ltd v Marketing Heads Australia Pty Ltd [2007] NSWSC 1143 Topfelt Pty Ltd v State Bank of NSW Ltd (1993) 12 ACSR 381 Zenaust Imports Pty Ltd v Alembic Chemicals Works Co Ltd (1998) 28 ACSR 465