Sebastian Builders and Developers Pty Ltd v Floruit Holdings Pty Ltd & Currency Corporation Pty Limited [2011] NSWSC 655

Supreme Court New South Wales

Medium Neutral Citation: Sebastian Builders and Developers Pty Ltd v Floruit Holdings Pty Ltd & Currency Corporation Pty Limited [2011] NSWSC 655 Hearing dates: 6 June 2011 Decision date: 11 July 2011 Jurisdiction: Equity Division Before: Macready AsJ Decision: Dismiss the proceedings with costs Catchwords: CORPORATIONS - statutory demand - application to set aside under s 459J(1)(b) of the Corporations Act 2001 (Cth) on the basis that, in the circumstances that exist between the parties, the use of the statutory demand procedure is not within the proper scope or purpose of the statutory provisions Legislation Cited: Corporations Act 2001 (Cth) Cases Cited: BHP Billiton v Schultz (2004) 221 CLR 400 Eumina Investments Pty Ltd v Westpac Banking Corporation [1998] FCA 824; (1998) 84 FCR 454; (1998) 16 ACLC 1440 Floruit Holdings Pty Ltd and Anor v Sebastian - Builders and Developers Pty Ltd [2009] NSWCA 303 TS Recoveries Pty Ltd v Sea-Slip Marinas (Australia) Pty Ltd [2007] NSWSC 1074 Category: Principal judgment Parties: Plaintiff - Sebastian Builders and Developers Pty Ltd Defendant 1 - Floruit Holdings Pty Ltd Defendant 2 - Currency Corporation Pty Limited Representation: Counsel: Plaintiff - Mr G McVay Defendants 1 & 2 - Mr B Katekar with Mr A Flecknoe-Brown Solicitors: Plaintiff - Emanuel Refenes Defendants 1 & 2 - Grech Partners Solicitors File Number(s): 2010/00365126