In the matter of Psyche Holdings Pty Limited [2018] NSWSC 1254

Supreme Court New South Wales

Medium Neutral Citation: In the matter of Psyche Holdings Pty Limited [2018] NSWSC 1254 Hearing dates: 27 July 2018 Date of orders: 27 July 2018 Decision date: 13 August 2018 Jurisdiction: Equity Before: Ward CJ in Eq Decision: 1. Pursuant to section 588FM of the Corporations Act, 12 July 2018 is fixed as the time for the plaintiff to lodge Personal Property Securities registration number: 201807120056182 for the purposes of section 588FL(2)(b)(iv) of the Corporations Act.

2. Liberty is reserved to any liquidator, administrator, deed administrator or unsecured creditor of the defendant to apply to discharge or vary order 1 if any winding up of the defendant occurs, or an administrator is appointed to the defendant under sections 436A, 436B or 436C of the Corporations Act, or the defendant executes a deed of company arrangement, within 6 months of 12 July 2018. Catchwords: CORPORATIONS – application under s 588FM of the Corporations Act 2001 (Cth) to fix registration time for security interests registered in the register established under the Personal Property Securities Act 2009 (Cth) – whether failure to register security interest was accidental or due to inadvertence – whether failure to register interest earlier prejudiced the position of creditors or shareholders Legislation Cited: Corporations Act 2001 (Cth) ss 436A, 436B, 436C, 588FL, 588FM Personal Property Securities Act 2009 (Cth) ss 21, 166, 293 Cases Cited: Bevillesta Pty Ltd v Imagine UN Ltd [2009] VSC 50; (2009) 69 ACSR 574 Campbell Finance Pty Ltd v Vivstan Packaging (Aust) Pty Ltd (in liq) [1998] 2 VR 340; (1996) 22 ACSR 109 Metcash Trading Ltd v 8 Nai Investments Pty Ltd [2011] FCA 1400 National Australia Bank Limited v Davis & Waddell (Vic) Pty Ltd [2003] VSC 1; (2003) 44 ACSR 296 Re Accolade Wines Australia Limited [2016] NSWSC 1023 Re Apex Gold Pty Ltd [2013] NSWSC 881 Re Appleyard Capital Pty Limited [2014] NSWSC 782 Re Black Opal IP Pty Ltd (subject to Deed Of Company Arrangement) [2013] NSWSC 1225 Re Cardinia Nominees Pty Ltd [2013] NSWSC 32 Re Carpenter International Pty Ltd [2016] VSC 118 Re David Brown Gear Industries Pty Ltd [2017] NSWSC 907 Re Freightlines Northern Territory Pty Ltd (in liq) (1999) 32 ACSR 573 Re Guardian Securities Ltd [1984] 1 NSWLR 95; (1984) 8 ACLR 822 Re Transurban CCT Pty Limited and Transurban CCT Nominees Pty Limited in its own capacity and as Trustee of the Transurban CCT Trust [2014] NSWSC 1909 Sanwa Australia Finance Ltd v Ground-Breakers Pty Ltd (in liq) [1991] 2 Qd R 456; (1990) 2 ACSR 692 Category: Principal judgment Parties: Ridgeway Finance Pty Ltd (Plaintiff) Psyche Holdings Pty Ltd (Defendant) Representation: Counsel: N Mirzai (Plaintiff)