In the matter of Denham Constructions Pty Limited [2016] NSWSC 1426

Supreme Court New South Wales

Medium Neutral Citation: In the matter of Denham Constructions Pty Limited [2016] NSWSC 1426 Hearing dates: 17 August 2016 Decision date: 17 August 2016 Jurisdiction: Equity - Corporations List Before: Black J Decision: The Court orders that pursuant to s 440A(2) of the Corporations Act 2001 (Cth) the hearing of the winding up application be adjourned to 1 September 2016 and pursuant to s 459R of the Corporations Act, the time for determination of the winding up application be extended to 30 November 2016. Catchwords: CORPORATIONS — Winding up — Winding up in insolvency – Adjournment of winding up application — where administrators of company were appointed immediately prior to hearing of the winding up application – where administrators applied for a short adjournment of the winding up application in circumstances that a secured creditor indicated intention to offer deed of company arrangement – whether it is in the interests of company's creditors that company continue under administration rather than be wound up. CORPORATIONS — Winding up — Winding up in insolvency – where winding up application had been in existence for nearly six months – whether the Court should extend period within which winding up application must be determined under s 459R of the Corporations Act 2001 (Cth). Legislation Cited: - Corporations Act 2001 (Cth), ss 436C, 440A, 459R Cases Cited: - Australian Securities and Investments Commission v Storm Financial Ltd (recs and mgrs apptd) (admin apptd) [2009] FCA 269; (2009) 71 ACSR 81 - Creevey v Deputy Commissioner of Taxation (1996) 19 ASCR 456 - Deputy Commissioner of Taxation v Bradley Keeling Management Pty Ltd [2003] NSWSC 47; (2003) 44 ACSR 377 - Deputy Commissioner of Taxation v KJ Consulting Pty Ltd [2005] FCA 1827 - Offshore and Ocean Engineering v Greenwich Contractors Pty Ltd [2012] NSWCA 371 - Re Bobos Engineering Australia Pty Ltd [2015] NSWSC 2027 - Re Octaviar Ltd (formerly MFS Ltd) [2008] QSC 216 - Re Offshore and Ocean Engineering Pty Ltd [2012] NSWSC 1296 - Weriton Finance Pty Ltd v PNR Pty Ltd (in admin) [2012] NSWSC 1402; (2012) 92 ACSR 88 Category: Principal judgment Parties: A Murray & Sons Pty Limited (Plaintiff) Denham Constructions Pty Limited (Defendant) Representation: Counsel: J S Burnett (Plaintiff) B Katekar/P Santucci (Administrators) A Hack (Workers Compensation Nominal Insurer – supporting creditor)