In the matter of ACN 605 810 928 Pty Ltd (in liq) (formerly Sydney Outboard Centre Pty Ltd) [2018] NSWSC 2026

Supreme Court New South Wales

Medium Neutral Citation: In the matter of ACN 605 810 928 Pty Ltd (in liq) (formerly Sydney Outboard Centre Pty Ltd) [2018] NSWSC 2026 Hearing dates: 29 October 2018 Decision date: 29 October 2018 Jurisdiction: Equity - Corporations List Before: Black J Decision: Order made under s 1322(4) of the Corporations Act 2001 (Cth) validating the Plaintiff's appointment as liquidator of the First Defendant, nunc pro tunc. The Plaintiff's costs of the application be paid out of the assets of the First Defendant. Catchwords: CORPORATIONS – winding up – application under s 1322 of the Corporations Act 2001 (Cth) to validate appointment of liquidator – where former shareholder may not have had capacity to transfer shares in company to purported current shareholder – where voluntary winding up of the company by special resolution of its members may have been invalid – where it is just and equitable that an order validating liquidator's appointment be made – whether the power under s 1322(4)(a) of the Corporations Act should be exercised. Legislation Cited: - Corporations Act 2001 (Cth) ss 491, 1322 Category: Principal judgment Parties: Mitchell Warren Ball (Plaintiff) ACN 605 810 928 Pty Ltd (in liq) (formerly Sydney Outboard Centre Pty Ltd) (First Defendant) Liquidion Properties Pty Ltd (ACN 169 708 696 (deregistered) (Second Defendant) Australian Securities and Investments Commission (Third Defendant) Representation: Counsel: N Chase Berry (Solicitor) (Plaintiff)

Solicitors: ERA Legal (Plaintiff) File Number(s): 2018/288191