In the matter of The Wills Group Pty Ltd (in liq) [2016] NSWSC 1907

Supreme Court New South Wales

Medium Neutral Citation: In the matter of The Wills Group Pty Ltd (in liq) [2016] NSWSC 1907 Hearing dates: 24 October 2016 Decision date: 24 October 2016 Jurisdiction: Equity - Corporations List Before: Black J Decision: The Court orders pursuant to s 482(1) of the Corporations Act 2001 (Cth) that the winding up of The Wills Group Pty Ltd (in liq) ("Company") be terminated. The Court orders that the solicitors for the Plaintiff are to pay the monies held in trust in the sum of $169,946.94 to the liquidator of the Company by noon 25 October 2016. The liquidator is to distribute those monies, in addition to the sum of $22,053.06 already held by the liquidator, to the relevant creditors in the specified proportions. The orders terminating the winding up be stayed to 4pm, 26 October 2016. Catchwords: CORPORATIONS — Winding up — Application under s 482(1) of the Corporations Act 2001 (Cth) for termination of the winding up of company – where director of company was unaware of creditor's statutory demand and the subsequent winding up application due to the company vacating its registered office at the time relevant documents were served – where there is evidence that liquidator of company will be provided with sufficient funds to discharge company's debts – whether liquidator's remuneration should be determined in an application for termination of winding up – whether company's solvency established – whether Court should order termination of winding up. Cases Cited: - Australian Securities and Investments Commission v Plymin [2003] VSC 123; (2003) 46 ACSR 126 - Mercy & Sons Pty Ltd v Wanari Pty Ltd [2000] NSWSC 756; (2000) 35 ACSR 70 - Re Glass Recycling Pty Ltd [2014] NSWSC 439 - Re SNL Group Pty Ltd (in liq) [2010] NSWSC 797 - Re Warbler Pty Ltd (1982) 6 ACLR 526 Texts Cited: - Corporations Act 2001 (Cth), ss 95A, 473 Category: Principal judgment Parties: Jang Bong Lee (Plaintiff) Representation: Counsel: A Wiederman (Solicitor) (Plaintiff) D Parish (Liquidator)