In the matter of Galtari Pty Limited (ACN 098 823) (in Liquidation) [2016] NSWSC 1972

Supreme Court New South Wales

Medium Neutral Citation: In the matter of Galtari Pty Limited (ACN 098 823) (in Liquidation) [2016] NSWSC 1972 Hearing dates: Friday, 26 February 2016 Date of orders: 26 February 2016 Decision date: 26 February 2016 Jurisdiction: Equity - Corporations List Before: Brereton J Decision: Section 447A applied so that s445CA did not apply and DOCA terminated by resolution of creditors on 11 August 2015, and companies were wound up on that date. Catchwords: CORPORATIONS – winding up – status of liquidation and liquidator – where interests of creditors better served by deferring winding up – whether procedure to terminate deed and transition to winding up was defective – availability of (CTH) Corporations Act 2001, s 445C – where circumstances specified in deed did not exist, and deed not terminated so that company was not wound up and deed administrator remained, whether that should be rectified – application of (CTH) Corporations Act 2001, s 447A Legislation Cited: (CTH) Corporations Act 2001, s 436A, s 445C, s 445CA, s 445C(c), s 445F, s 445E, s 446A, s 447A, s 556, s 1322(4) Cases Cited: Angus Carnegie Gordon in the Matter of Macquarie Towns Partners Real Estate Pty Ltd (subject to Deed of Company Arrangement) [2011] NSWSC 806 Frenchy's Bread Pty Limited, In the matter of [2015] NSWSC 2031 Category: Principal judgment Parties: Cheskaye Pty Limited (first plaintiff) Damon Joseph Moloney (second plaintiff) Brett Raymond Smith (third plaintiff) David Gregory Young (first defendant/first applicant) Galtari Pty Limited (in liquidation)(second defendant/second applicant) Representation: Counsel: S Golledge (defendants/applicants) J O'Connor (creditor)