In the matter of Evelution Pty Ltd [2014] NSWSC 1318

Supreme Court New South Wales

Medium Neutral Citation: In the matter of Evelution Pty Ltd [2014] NSWSC 1318 Date of orders: 23 September 2014 Decision date: 23 September 2014 Jurisdiction: Equity Division - Corporations List Before: Brereton J Decision: Registrar's orders set aside; application for winding up adjourned to enable meeting of creditors to be held Catchwords: CORPORATIONS external administration - voluntary administration - deeds of company arrangement - whether the Court should adjourn hearing of application for winding up under s 440A(2) - whether administration rather than liquidation is in the better interests of the creditors - where last minute revised deed proposal offers prospect of recovery of 100 cents in dollar - where only unrelated creditor approves adjournment - where related creditors have reasonable commercial interest in the deed proposal Legislation Cited: (Cth) Corporations Act 2001, s 436, 439B, 439C, 440A, 600A Cases Cited: Deputy Commissioner of Taxation v Bradley Healing Management Pty Limited (2003) 44 ACSR 377; [2003] NSWSC 47 Deputy Commissioner of Taxation v Alternative Business Solutions (Aust) Pty Ltd (admin apptd) [2006] FCA 400 In the matter of Re Offshore & Ocean Engineering Pty Limited [2012] NSWSC 1296 Offshore and Ocean Engineering Pty Limited v Greenwich Contractors Pty Limited [2012] NSWCA 371 In the matter of Sales Express Proprietary Limited [2014] NSWSC 460 Category: Procedural and other rulings Parties: Deputy Commissioner of Taxation (plaintiff) Evelution Pty Ltd ACN 102 268 244 (defendant) Gavin Moss and Nick Combis (administrators) Representation: Counsel: K Metlej (solicitor) (plaintiff) A G Martin (administrators)