In the matter of Lilibuck Pty Ltd [2016] NSWSC 1950

Supreme Court New South Wales

Medium Neutral Citation: In the matter of Lilibuck Pty Ltd [2016] NSWSC 1950 Hearing dates: 1 February 2016 Date of orders: 01 February 2016 Decision date: 01 February 2016 Jurisdiction: Equity - Corporations List Before: Brereton J Decision: Order that company be wound up and liquidator appointed. Catchwords: CORPORATIONS – winding up – winding up in insolvency – scant evidence of insolvency; CORPORATIONS – winding up – winding up on just and equitable ground – where company has no director acting – where only shareholder has no director acting and unlikely that any director will be appointed to act; PROCEDURE – miscellaneous procedural matters – standing – where plaintiff creditor is bankrupt – held, debt vests in trustee in bankruptcy so right to bring action vests in trustee in bankruptcy of creditor; PROCEDURE – miscellaneous procedural matters – standing – inherent power of the court to wind up company of its own motion under (NSW) Supreme Court Act 1970, s 23 where there is no practicable alternative – where company and contributory director-less; PROCEDURE – miscellaneous procedural matters – where no notice given of winding up application – where company and contributory director-less. Legislation Cited: (CTH) Corporations Act 2001, s 459A, s 459P and s 461 (CTH) Bankruptcy Act 1966, s 58 and s 116 (NSW) Supreme Court Act 1970, s 23 Cases Cited: Botar-Tatham Pty Ltd, Re (2001) 52 NSWLR 680; [2001] NSWSC 613 CIC Insurance Ltd (Provisional Liquidator Apptd) v Hannan & Co Pty Ltd (2001) 30 ACSR 2005; [2001] NSWSC 437 Edwards v Attorney General & Anor (2004) 60 NSWLR 667; (2004) 50 ACSR 122; [2004] NSWCA 272 Official Trustee in Bankruptcy v Buffier (2005) 54 ACSR 767; [2005] NSWSC 839 Phelan v Ambridge Corporation Pty Ltd (2005) 55 ACSR 136; [2005] NSWSC 875 Category: Principal judgment Parties: Peter Ashton (plaintiff) Lilibuck Pty Ltd (defendant) Representation: Counsel: M Rosenblatt (solicitor) (plaintiff)