Roumanus v Orchard Holdings [2007] NSWSC 1480

New South Wales Supreme Court

CITATION : Roumanus v Orchard Holdings [2007] NSWSC 1480

HEARING DATE(S) : 26 November, 3 & 10 December 2007

JUDGMENT DATE : 19 December 2007

JURISDICTION : Equity

JUDGMENT OF : Austin J

DECISION : Liquidators appointed provisionally

CATCHWORDS : CORPORATIONS - winding up - application for appointment of provisional liquidators - evidence of lack of financial records and financial statements, and mismanagement - discretionary considerations

LEGISLATION CITED : Corporations Act 2001 (Cth) ss 186, 461, 472, 588E, 588FB

Allstate Explorations NL v Batepro Australia Pty Ltd [2004] NSWSC 261 Boral Resources (WA) Ltd v Innovative Precast Systems Pty Ltd, Supreme Court of Western Australia (Sanderson M), 24 August 1998, BC 9804409 Commonwealth v Hendon Industrial Park Pty Ltd (1995) 17 ACSR 358 Constantinidis v JGL Trading Pty Ltd (1995) 17 ACSR 625 Fexuto Pty Ltd v Bosnjak Holdings Pty Ltd [1998] NSWSC 413 Labraga v Pomfret [2005] NSWSC 490 Lubavitch Mazal Pty Ltd v Yeshiva Properties (No 1) Pty Ltd (2003) 22 ACLC 735 National Investment Institute Pty Ltd (in liq) v Property Corporate Services Pty Ltd (2004) 48 ACSR 508 Natural Extracts Pty Ltd v Stotter (Federal Court of Australia, Hely J, unreported, 18 December 1998) CASES CITED : Re Capital Services Ltd (1983) 1 ACLC 1270 Re Five Minute Car Wash Service Ltd [1966] 1 All ER 242 Re Gasbourne Pty Ltd (1984) 2 ACLC 103 Re JWD Pty Ltd (1990) 5 WAR 31 Re McLennan Holdings Pty Ltd (1983) 7 ACLR 739 Re Quest Exploration Pty Ltd (1992) 6 ACSR 659 Rivkin Financial Services Ltd v Sofcom Ltd [2004] FCA 1538 Shirim Pty Ltd v Fesena Pty Ltd (2005) 35 ACSR 221 Triulco v Chase Property Investments Pty Ltd [2003] NSWSC 861 Zempilas v JN Taylor Holdings Ltd (No 2) (1990) 55 SASR 103