Ewen Stewart & Associates Pty Ltd v Blue Mountains Virtual Air Helitours Pty Ltd (No. 2) [2011] NSWSC 113

Supreme Court New South Wales

Medium Neutral Citation: Ewen Stewart & Associates Pty Ltd v Blue Mountains Virtual Air Helitours Pty Ltd (No. 2) [2011] NSWSC 113 Hearing dates: 14 February 2011 Decision date: 15 February 2011 Before: White J Decision: 1. Make order 1 in the defendant's interlocutory process filed on 28 October 2010. 2. Order that the costs of the interlocutory process be the defendant's costs in the proceedings. Catchwords: CORPORATIONS - winding up in insolvency - failure to comply with statutory demand - application for leave under s 459S Corporations Act 2001 (Cth) to oppose winding up on ground that existence of debt genuinely in dispute - whether disputed debt "material" to proof of solvency - what is material to proof of solvency not same as what is determinative of solvency - existence of disputed debt pivotal if company might be found to be solvent if debt exists Legislation Cited: Corporations Act 2001 (Cth) Cases Cited: Switz Pty Limited v Glowbind Pty Limited [2000] NSWCA 37; (2000) 48 NSWLR 661

Chief Commissioner of Stamp Duties v Paliflex Pty Limited [1999] NSWSC 15; (1999) 17 ACLC 467

Grant Thornton Services (NSW) Pty Limited v St George Wholesale Distributors Pty Limited [2008] FCA 1777

Ace Contractors and Staff Pty Limited v Westgarth Development Pty Limited [1999] FCA 728

Expile Pty Limited v Jabb's Excavations Pty Limited (No 2) [2003] NSWCA 163; (2003) 21 ACLC 1354

Zan Holdings Pty Limited v Bay View Holdings Pty Limited (1997) 15 ACLC 1238

HVAC Construction (Qld) Pty Ltd v Energy Equipment Engineering Pty Limited [2002] FCA 1638; (2002) 44 ACSR 169