Sutherland & Anor as joint liquidators of Australian Coal Technology v Hanson Construction Materials Pty Ltd [2009] NSWSC 232

New South Wales Supreme Court

CITATION : Sutherland & Anor as joint liquidators of Australian Coal Technology v Hanson Construction Materials Pty Ltd [2009] NSWSC 232

HEARING DATE(S) : 03/03/09

JUDGMENT DATE : 3 April 2009

JURISDICTION : Equity Division Corporations List

JUDGMENT OF : Barrett J

DECISION : Separate question answered

CATCHWORDS : CORPORATIONS – winding up – preference recovery proceedings – separate question as to solvency during relevant period – definition of solvency considered – matters pertaining to solvency examined – deed of novation – indemnity clause – whether an on demand debt is a contingent or current liability

LEGISLATION CITED : Corporations Act 2001 (Cth), Part 5.3A, ss 9, 95A, 439A, 588FA, 588FC, 588FF Evidence Act 1995, s 79

CATEGORY : Principal judgment

Bank of Australasia v Hall [1907] HCA 78; (1907) 4 CLR 1514 Bell Group Ltd (in liq) v Westpac Banking Corp (No 9) [2008] WASC 239 Box Valley Pty Ltd v Kidd [2006] NSWCA 26; (2006) 24 ACLR 471 Expile Pty Ltd v Jabb's Excavations Pty Ltd [2003] NSWCA 163; (2003) 45 ACSR 711 Hall v Poolman [2007] NSWSC 1330; (2007) 65 ACSR 123 Hymix Concrete Pty Ltd v Garrity (1977) 13 ALR 321; 2 ACLR 559 CASES CITED : Keith Smith East West Transport Pty Ltd v Australian Taxation Office [2002] NSWCA 264; (2002) 42 ACSR 501 Lewis v Doran [2004] NSWSC 608; (2004) 50 ACSR 175 Lewis (as Liquidator of Doran Constructions Pty Ltd) v Doran [2005] NSWCA 243; (2005) 54 ACSR 410 Manpac Industries Pty Ltd v Ceccattini [2002] NSWSC 330; (2002) 20 ACLC 1304 New Cap Reinsurance Corp Ltd (in liq) v Grant [2008] NSWSC 1015; (2008) 68 ACSR 176 Noxequin Pty Ltd v Deputy Commissioner of Taxation [2007] NSWSC 87 Sandell v Porter (1966) 115 CLR 666 Southern Cross Interiors Pty Ltd (in liq) v Deputy Commissioner of Taxation [2001] NSWSC 621; (2001) 53 NSWLR 213