NSW Caselaw
New South Wales Supreme Court
CITATION : Growth Equities Corporation Ltd v Genesis Growth Investments pty Ltd [2010] NSWSC 1302
HEARING DATE(S) : 09/11/10
JUDGMENT DATE : 9 November 2010
JURISDICTION : Equity Division Corporations List
JUDGMENT OF : Barrett J
EX TEMPORE JUDGMENT DATE : 9 November 2010
DECISION : Statutory demand set aside. Defendant to pay plaintiff's costs on the indemnity basis.
CATCHWORDS : CORPORATIONS - winding up - winding up in insolvency - application for order setting aside statutory demand - defendant abandons statutory demand except as to one element - whether genuine dispute as to existence of debt - obvious dispute obviously genuine - demand set aside - appropriate case for indemnity costs
LEGISLATION CITED : Corporations Act 2001 (Cth), ss 459G, 459H(1)(a)
CATEGORY : Principal judgment
CASES CITED : Eyota Pty Ltd v Hanave Pty Ltd (1994) 12 ACSR 785
PARTIES : Growth Equities Corporation Limited - Plaintiff Genesis Growth Investments Pty Ltd - Defendant
FILE NUMBER(S) : SC 2010/231833
COUNSEL : Mr N J Heinecke - Plaintiff Mr P G Cutler - Defendant
SOLICITORS : Horton Rhodes - Plaintiff Joseph Ho Lawyers - Defendant
IN THE SUPREME COURT OF NEW SOUTH WALES EQUITY DIVISION CORPORATIONS LIST
BARRETT J
TUESDAY 9 NOVEMBER 2010
2010/231833 GROWTH EQUITIES CORPORATION LIMITED v GENESIS GROWTH INVESTMENTS PTY LTD
JUDGMENT
1 The plaintiff ("Growth Equities") applies under s 459G of the Corporations Act 2001 (Cth) for an order setting aside a statutory demand dated 25 June 2010 served on it by the defendant ("Genesis"). 2 The statutory demand relates to two debts or alleged debts totalling $34,202.62 described in its schedule as follows:
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