NSW Caselaw
Reported Decision : 71 ACSR 569
New South Wales Supreme Court
CITATION : Trans Pacific Insurance Corporation [2009] NSWSC 308
HEARING DATE(S) : 22/04/09
JUDGMENT DATE : 23 April 2009
JURISDICTION : Equity Division Corporations List
JUDGMENT OF : Barrett J
DECISION : Order appointing provisional liquidator
CATCHWORDS : CORPORATIONS - winding up - appointment of provisional liquidator - foreign company - whether "Part 5.7 body" - grounds for winding up - whether s 462(1) grounds available - s 583 grounds only held to be available - standing to apply for winding up - standing of corporation itself - standing of contributory - who is "contributory" of Part 5.7 body - where corporation itself applies, need to consider decision to apply - whether good prospect that winding up will be ordered - factors relevant to appointment of provisional liquidator - apparent insolvency - apparent regulatory non-compliance in place of incorporation - where creditors and assets substantially in Australia - whether undertaking as to damages should be required
LEGISLATION CITED : Corporations Act 2001 (Cth) - Part 5.4, Part 5.7, Part 5B2 Division 2, ss 9, 95A, 461(1), 472(2), 583, 585, 586, 601CD Supreme Court (Corporations) Rules 1999, rule 6.1(4)
CATEGORY : Principal judgment
Australian Securities and Investments Commission v Solomon (1996) 19 ACSR 73 Australian Securities and Investments Commission v Triton Underwriting Insurance Agency Pty Ltd [2003] NSWSC 1145; (2003) 48 ACSR 249 Loch v John Blackwood Ltd [1924] AC 783 Lubavitch Mazal Pty Ltd v Yeshiva Properties No 1 Pty Ltd [2003] NSWSC 535; (2003) 47 ACSR 197 New Cap Reinsurance Corporation Ltd v A E Grant [2008] NSWSC 1015; (2008) 68 ACSR 176 Re Giant Resources Ltd [1991] 1 QdR 107 CASES CITED : Re Inkerman Grazing Pty Ltd (1972) 1 ACLR 102 Re Interchase Management Services Pty Ltd (1992) 9 ACSR 148 Re McLennan Holdings Pty Ltd (1983) 7 ACLR 732 Re United Medical Protection Ltd [2002] NSWSC 413; (2002) 41 ACSR 623 Re United Uranium NL [1990] VR 121 The Peninsular Group Ltd v Kintsu Co Ltd (1998) 28 ACSR 632 Titchfield Management Ltd v Vaccinoma Ltd [2008] NSWSC 1196; (2008) 68 ACSR 448
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