In the matter of DJG Equities Pty Ltd [2014] NSWSC 36

Supreme Court New South Wales

Medium Neutral Citation: In the matter of DJG Equities Pty Ltd [2014] NSWSC 36 Hearing dates: 13 December 2013 Decision date: 07 February 2014 Jurisdiction: Equity Division - Corporations List Before: Black J Decision: Held that transaction was an uncommercial transaction and an insolvent transaction for the purposes of Corporations Act 2001 (Cth) ss 588FB and 588FC respectively. Transaction was declared a voidable transaction. Catchwords: CORPORATIONS - winding up - winding up in insolvency - uncommercial transactions - Corporations Act 2001 (Cth) s 588FB - whether transfer of shares was an uncommercial transaction - Corporations Act 2001 (Cth) ss 588FC and 588FE. Legislation Cited: Corporations Act 2001 (Cth) ss 201A, 588FB, 588FC, 588FE, 588FE(1), 588FE(3), 588FE(4), 588FE(5), 588FF, 588FF(1), 1274B(2) Cases Cited: - Lewis v Doran [2005] NSWCA 243; (2005) 54 ACSR 410 - McDonald v Hanselmann [1998] NSWSC 171; (1998) 28 ACSR 49 - Old Kiama Wharf Company (in liq) v Betohuwisa Investments Pty Ltd [2011] NSWSC 823; (2011) 85 ACSR 87 - Tosich Construction Pty Ltd (in liq) v Tosich (1997) 78 FCR 363 Category: Principal judgment Parties: Antony Resnick and Brian Raymond Silvia in their capacity as liquidators of DJG Securities Pty Ltd (in liquidation) (First Plaintiff) Antony Resnick and Brian Raymond Silvia in their capacity as receivers of the assets of the D&T Family Discretionary Trust (Second Plaintiff) DJG Equities Pty Ltd (First Defendant) Stephen Craig Hitchings (Second Defendant) Argyle Investments & Securities Pty Ltd (Third Defendant) Autohaus Wholesalers Pty Ltd (Fourth Defendant) Representation: Counsel: C. O'Neill (Plaintiffs) G. Carolan (Defendants) Solicitors: Swaab Attorneys (Plaintiffs) Meridian Lawyers (Defendants) File Number(s): 2013/356731