NSW Caselaw
New South Wales Supreme Court
CITATION : Basto v Basto [2007] NSWSC 864
HEARING DATE(S) : 23 July 2007 JUDGMENT OF : Hammerschlag J
EX TEMPORE JUDGMENT DATE : 23 July 2007
DECISION : The winding up of Basto Management Limited be terminated.
CATCHWORDS : CORPORATIONS – Application to terminate winding up under s 482 of the Corporations Act 2001 (Cth) – Winding up initially stayed to allow resolutions to be passed and then terminated
LEGISLATION CITED : Corporations Act 2001 (Cth)
PARTIES : Richard Basto Basto Management Limited (in liquidation) subject to a deed of company arrangement
FILE NUMBER(S) : SC 3166/2007
COUNSEL : S.M. Golledge (Plaintiff)
SOLICITORS : Uther Webster & Evans (Plaintiff)
- 5 - IN THE SUPREME COURT OF NEW SOUTH WALES EQUITY DIVISION CORPORATIONS LIST
HAMMERSCHLAG J
23 JULY 2007
3166/2007 RICHARD BASTO –v- BASTO MANAGEMENT LIMITED (IN LIQUIDATION) (SUBJECT TO A DEED OF COMPANY ARRANGEMENT) EX TEMPORE JUDGMENT 1 HIS HONOUR: This is an application pursuant to s 482 of the Corporations Act 2001 (Cth) brought by the plaintiff Richard Basto for an order that the voluntary winding up of Basto Management Limited, (in liquidation) (subject to a deed of company arrangement), ("the company") be terminated or, alternatively, stayed indefinitely.
2 Mr Golledge of counsel appeared for the plaintiff on the application. In it were read the following affidavits: Richard Basto 6 June 2007, Michael Jones 1 June 2007, Andrew Wily 13 June 2007, Michael Garvin 16 July 2007, David Winston Jago 4 July 2007 and Richard Basto 23 July 2007.
3 Also tendered and admitted into evidence was exhibit RB1 to the affidavit of Mr Basto of 6 June 2007. The history of the matter is set out in that affidavit. 4 It is not necessary to deal with the early history of the matter, suffice it to say that Mr Basto is a shareholder in, and creditor of, the company, the company was incorporated on 24 March 1980, and on 2 July 1997 its directors appointed Mr Hugh Wily and Mr Andrew Wily to be joint administrators.
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