In the matter of Alsafe Security Products Pty Ltd atf the Alsafe Trust (in liquidation) [2016] NSWSC 428

Supreme Court New South Wales

Medium Neutral Citation: In the matter of Alsafe Security Products Pty Ltd atf the Alsafe Trust (in liquidation) [2016] NSWSC 428 Hearing dates: 18 March 2016 Decision date: 14 April 2016 Jurisdiction: Equity - Corporations List Before: Black J Decision: Order that judgment be entered in favour of the First and Second Plaintiff in the amount of $97,628.58 and interest. Order that Defendant pay the First and Second Plaintiff's costs of the proceedings as agreed or as assessed. Catchwords: CORPORATIONS — Voidable transactions — Application for orders under s 588FF of the Corporations Act 2001 (Cth) – where Defendant relied on defence under s 588FG(2) of the Corporations Act 2001 (Cth) – whether defence under s 588FG(2) of the Corporations Act 2001 (Cth) is established. Legislation Cited: - Corporations Act 2001 (Cth), ss 95A, 553C, 588FA, 588FC, 588FE, 588FF, 588FG - Evidence Act 1995 (Cth), s 136 Cases Cited: - Airservices Australia v Ferrier [1996] HCA 54; (1996) 185 CLR 483 - Chicago Boot Co Pty Ltd v Davies & McIntosh as Joint & Several Liquidators of Harris Scarfe Ltd [2011] SASCFC 92; (2011) 85 ACSR 309 - Cook's Constructions Pty Ltd v Brown [2004] NSWCA 105; 49 ACSR 62 - Cussen (as liquidator of Akai Pty Ltd (in liq)) v Cmr of Taxation [2004] NSWCA 383; (2004) 51 ACSR 530 - D'Aloia v Federal Commissioner of Taxation [2003] FCA 1336; (2003) 48 ACSR 204 - Dean-Willcocks v Cmr of Taxation [2004] NSWSC 1058; (2004) 51 ACSR 353 - Dean-Willcocks v Cmr of Taxation [2008] NSWSC 1113 - Downs Distributing Co Pty Ltd v Associated Blue Star Stores Pty Ltd (in liq) [1948] HCA 14; (1948) 76 CLR 463 - Harkness v Commonwealth Bank of Australia Ltd (1993) 12 ACSR 165 - Jones v Dunkel [1959] HCA 8; (1959) 101 CLR 298 - Kel Builders (Qld) Pty Ltd (in liq) v Brett Nash Electrics Pty Ltd [2001] QSC 178 - Kuhl v Zurich Financial Services Australia Ltd [2011] HCA 11; (2011) 243 CLR 361 - Mann v Sangria Pty Ltd [2001] NSWSC 172; (2001) 38 ACSR 307 - MSPR Pty Ltd v Advanced Braking Technology Ltd [2013] NSWCA 416 - Pegulan Floor Coverings Pty Ltd v Carter (1997) 24 ACSR 651 - Queensland Bacon Pty Ltd v Rees [1966] HCA 21; (1966) 115 CLR 266 - Sims v Celcast Pty Ltd (1998) 71 SASR 142 - Sutherland (as liquidator of Sydney Appliances Pty Ltd (in liq)) v Eurolinx Pty Ltd [2001] NSWSC 230; (2001) 37 ACSR 477 - Wily (in his capacity as liquidator of Goltep Constructions (NSW) Pty Ltd (in liq)) v Eastern - Elevators Pty Ltd [2003] NSWSC 377; (2003) 45 ACSR 261 Category: Principal judgment Parties: Alsafe Security Products Pty Ltd atf The Alsafe Trust (in liquidation) (First Plaintiff) Terry Grant van der Velde as liquidator of Alsafe Security Products Pty Ltd atf The Alsafe Trust (in liquidation) (Second Plaintiff) Darley Aluminium Trading Pty Ltd (Defendant) Representation: Counsel: I J King (Plaintiffs) M Tovey (Defendant)