In the matter of Kisimul Holdings Pty Limited [2014] NSWSC 422

Supreme Court New South Wales

Medium Neutral Citation: In the matter of Kisimul Holdings Pty Limited [2014] NSWSC 422 Hearing dates: Thursday, 10 April 2014 Decision date: 10 April 2014 Before: Brereton J Decision: 1. In each matter, pursuant to Corporations Act, s 459F(2)(a)(ii), the time by which the plaintiff must comply with the statutory demand the subject of these proceedings be extended to: a. 5:00pm on 11 April 2014 or b. if by that time an application for leave to appeal has been filed, then until seven days after the determination of that application or further order of this court or of the Court of Appeal. 2. Costs of the present applications be costs in the application for leave to appeal Catchwords: CORPORATIONS - winding up - winding up in insolvency - application to extend time for compliance with creditors statutory demand following dismissal of application to set aside demand pending appeal from such dismissal - whether arguable appeal demonstrated - where primary judge applied prerequisite of substantial injustice to application to set aside for "other reason" under s 459J(1)(b) - held, arguable appeal - where the appeal would be rendered nugatory unless extension is granted - whether security should be required for debt and/or for costs of appeal - held, security, not required. Legislation Cited: (Cth) Corporations Act 2001, s 459E, s 459F, s 459G, s 459J, s 1335 Cases Cited: Australian Beverage Distributors Pty Ltd v Cranswick Premium Wines Pty Ltd [2004] NSWSC 877, (2004) 50 ACSR 544 B & M Quality Constructions Pty Ltd v Buyrite Steel Supplies Pty Ltd (1994) 15 ACSR 433 Hoare Bros Pty Ltd v Deputy Commissioner of Taxation (1996) 62 FCR 302 In the matter of Britten-Norman Pty Ltd [2013] NSWSC 424 In the matter of Kisimul Holdings Proprietary Limited [2014] NSWSC 338 Meehan v Glazier Holdings Pty Ltd [2005] NSWCA 24; (2005) 53 ACSR 229 Spencer Constructions Pty Ltd v G & M Aldridge Pty Ltd (1997) 76 FCR 452 Topfelt Pty Ltd v State Bank of New South Wales Ltd (1993) 47 FCR 226; (1993) 12 ACSR 381 Category: Interlocutory applications Parties: 2013/299293 Kisimul Holdings Pty Ltd (plaintiff) Clear Position Pty Limited (defendant) 2013/326171 Kisimul Holdings Pty Ltd (plaintiff) Clear Position Pty Limited (defendant) Representation: Counsel: C D Wood w D Krochmalik (plaintiff) D R Stack (defendant) Solicitors: Hilton Lawyers (plaintiff) ERA Legal (defendant) File Number(s): 2013/299293; 2013/326171