In the Matter of Australia Zhongfu Oil Gas Resources Pty Ltd [2012] NSWSC 1208

Supreme Court New South Wales

Medium Neutral Citation: In the Matter of Australia Zhongfu Oil Gas Resources Pty Ltd [2012] NSWSC 1208 Hearing dates: 15 August 2012 Decision date: 15 August 2012 Jurisdiction: Equity Division - Corporations List Before: Brereton J Decision: Application to set aside statutory demand dismissed with costs; statutory demand varied Catchwords: CORPORATIONS - creditor's statutory demand - application to set aside - Corporations Act s 459G - whether genuine offsetting demand exists - Graywinter principle - whether s 459G affidavit reveals material facts underlying plaintiff's claims Legislation Cited: (Cth) Australian Consumer Law, cl 18, cl 20, cl 21, cl 22 (Cth) Corporations Act 2001, s 459H(4) Cases Cited: White & Carter (Councils) Ltd v McGregor [1962] AC 413; [1961] 3 All ER 1178 Francis May Pty Ltd v Tikitere Pty Ltd (NSWSC, Miles J, 2 April 1982, unreported) Graywinter Property Pty Ltd v Gas & Fuel Corporation Superannuation Fund (1996) 21 ACSR 581 Elm Financial Services Pty Ltd v MacDougal [2004] NSWSC 560 Tuta Health Care Pty Ltd v Nipar Asia Pty Ltd [2005] NSWSC 664 Infact Consulting Pty Ltd v Kyle House Pty Ltd [2007] NSWSC 56 Condor Asset Management Limited v Excelsior Eastern Limited [2005] NSWSC 1139; (2005) 56 ACSR 223 Safe Rack Pty Limited v Marketing Heads Australia Pty Limited [2007] NSWSC 1143; (2007) 214 FLR 393 Category: Principal judgment Parties: Australia Zhongfu Oil Gas Resources Pty Ltd ACN 150 316 500 (Plaintiff) ADA International Pty Ltd ACN 124 248 915 (Defendant) Representation: Counsel: I G A Archibald (Plaintiff) J S Mereine (Defendant) Solicitors: Hu Solicitors (Plaintiff) King Wood & Mallesons (Defendant) File Number(s): 12/103911