Tripod Funds Management Pty Limited v Arkbay Investments Pty Limited [2014] NSWSC 1908

Supreme Court New South Wales

Medium Neutral Citation: Tripod Funds Management Pty Limited v Arkbay Investments Pty Limited [2014] NSWSC 1908 Hearing dates: 10 November 2014 Date of orders: 10 November 2014 Decision date: 10 November 2014 Jurisdiction: Equity Division - Corporations List Before: Brereton J Decision: Plaintiff's solicitor refused leave to withdraw. Originating process dismissed with costs. Catchwords: CORPORATIONS - winding up - winding up in insolvency - setting aside creditors statutory demand – where founded on judgment debt – alleged intention to appeal but not application for a stay or leave to appeal filed – insufficient grounds to establish "some other reason" PROCEDURE – representation – ceasing to act – necessity for notice of intention to cease to act Legislation Cited: (Cth) Corporations Act 2001, s 459G (NSW) Real Property Act 1900, s 74 Cases Cited: Arkbay Investments Pty Limited (in liquidation) (receivers and managers appointed) v Tripod Funds Management Pty Limited [2014] NSWSC 1003 Barclays Australia (Finance) Limited v Mike Gaffikin Marine Pty Ltd (1996) 21 ACSR 235 Eumina Investments Pty Ltd v Westpac Banking Corporation (1998) 84 FCR 454 Timberland Property Holdings Pty Ltd v Schindler Lifts Australia Pty Ltd [2011] NSWSC 466 Category: Procedural and other rulings Parties: Tripod Funds Management Pty Ltd ACN 145 339 653 (plaintiff) Arkbay Investments Pty Ltd (in liquidation) (receivers and managers appointed) (ACN 086 719 655) (first defendant) McEvoy Street Alexandria Pty Limited (in liquidation) (receivers and managers appointed) (ACN 114 206 414) (second defendant) Australian and New Zealand Banking Group Limited (ABN 11 005 357 522) (third defendant) Representation: Counsel: B Payne (plaintiff) R Tyson (defendants)