Teffaha v Australian Securities and Investments Commission [2010] NSWSC 511

New South Wales Supreme Court

CITATION : Teffaha v Australian Securities and Investments Commission [2010] NSWSC 511

HEARING DATE(S) : 21/05/10

JUDGMENT DATE : 21 May 2010

JURISDICTION : Equity Division Corporations List

JUDGMENT OF : Barrett J

EX TEMPORE JUDGMENT DATE : 21 May 2010

1. Order that the Australian Securities and Investments Commission reinstate the registration of F & R Enterprises Pty Ltd ACN 102 303 444. DECISION : 2. Order that, in the event that reinstatement by Australian Securities and Investments Commission pursuant to order 1 is not completed on 21 May 2010, any special resolution or other action of and relating to F & R Enterprises Pty Ltd for the imposition upon it of creditors voluntary winding up and appointment of Angus Gordon as liquidator be validated pursuant to s 601AH(3) of the Corporations Act. 3. Order that the plaintiff pay the defendant's costs in the sum of $434 within two days.

CATCHWORDS : CORPORATIONS - deregistered company - application for order directing ASIC to reinstate registration - application by person who is director and shareholder - something more required to make him a "person aggrieved" - additional element supplied by his being a recipient of a director's penalty notice under income tax legislation - whether reinstatement "just" - where non-existent company traded for three years - where supposed tax debt non-existent because debtor non-existent - where recipients of directors penalty notices undertake to put company into voluntary winding up if reinstated

LEGISLATION CITED : Corporations Act 2001 (Cth), Part 5.3A, ss 601AH(2) 601AH(3), 601AH(5) Income Tax Assessment Act 1936 (Cth), s 222AOE