In the matter of JKAM Investments Pty Limited [2016] NSWSC 1955

Supreme Court New South Wales

Medium Neutral Citation: In the matter of JKAM Investments Pty Limited [2016] NSWSC 1955 Hearing dates: Monday, 15 February 2016 Date of orders: 15 February 2016 Decision date: 15 February 2016 Jurisdiction: Equity - Corporations List Before: Brereton J Decision: Defendant has failed to rebut presumption of insolvency. Matter adjourned to allow defendant opportunity to adduce further evidence to address issue of insolvency Catchwords: CORPORATIONS – winding up – winding up in insolvency – where plaintiff establishes presumption of insolvency – onus of defendant to rebut presumption falls on company – ability to pay plaintiffs' debt does not prove solvency – inadmissibility of unaudited balance sheet based duly on hearsay statements – no other admissible evidence of financial position of company Cases Cited: Australian Mid-Eastern Club v Yassim (1989) 1 ACSR 399 Deputy Commissioner of Taxation v De Simone Pty Limited [2007] FCA 548 Expile Pty Limited v Jabb's Excavations Pty Limited [2003] NSWCA 163; (2003) 45 ACSR 711 Tellsa Furniture Pty Limited v Glendave Nominees Pty Limited (1987) 9 NSWLR 245; 5 ACLR 64 Category: Principal judgment Parties: Champion Homes Sales Pty Ltd ACN 082 497 247 (plaintiff) JKAM Investments Pty Limited ACN 159 084 018 (defendant) Representation: Counsel: C Stomo (plaintiff) M Mando (defendant)

Solicitors: Team Legal Group (plaintiff) JK Solicitors (defendant) File Number(s): 2015/372042