In the matter of Grandview Ausbuilder Pty Limited (administrator appointed) [2019] NSWSC 1243

Supreme Court New South Wales

Medium Neutral Citation: In the matter of Grandview Ausbuilder Pty Limited (administrator appointed) [2019] NSWSC 1243 Hearing dates: 12 September 2019 Date of orders: 19 September 2019 Decision date: 19 September 2019 Jurisdiction: Equity - Corporations List Before: Rees J Decision: 1. Pursuant to section 440A(2) of the Corporations Act 2001 (Cth) adjourn the hearing of the application to wind up Grandview Ausbuilder Pty Limited to 30 September 2019 at 10.00 am before Rees J. 2. Reserve all questions of costs of the Interlocutory Process and Originating Process. 3. Grant liberty to apply on 24 hours' notice. Catchwords: CORPORATIONS — Winding up — Application to adjourn winding up application where administrator appointed — Relevant factors in s 440A(2) of the Corporations Act — Where litigation against petitioning creditor — Whether suit has prospects of success — Suit not identical to application to set aside statutory demand such that it could not succeed — Possible recoverable preference payments in liquidation — Alleged insolvent trading — Significant deed contribution by proponent with security over real property — Significant related party claims to be postponed under proposed DOCA — In the interests of creditors to allow meeting to be held to allow vote on proposed DOCA — Application granted. Legislation Cited: Building and Construction Industry Security of Payment Act 1999 (NSW), ss 14, 15, 32 Corporations Act 2001 (Cth), ss 436A, 440A, 459H, 467, 588FE Insolvency Practice Rules (Corporations) 2016 (Cth), rr 75-110, 75-115 Cases Cited: Australian Beverage Distributors Pty Ltd v Cranswick Premium Wines Pty Ltd (2004) 50 ACSR 544; [2004] NSWSC 877 Deputy Commissioner of Taxation v Bradley Keeling Management Pty Limited (2003) 44 ACSR 377; [2003] NSWSC 47 Deputy Commissioner of Taxation v KJ Consulting Pty Ltd (administrators appointed) [2005] FCA 1827 Grandview Ausbuilder Pty Limited v Budget Demolitions Pty Limited [2018] NSWSC 1647 Grandview Ausbuilder Pty Limited v Budget Demolition Pty Limited (No 2) [2018] NSWCA 341 Grandview Ausbuilder Pty Limited v Budget Demolitions Pty Limited (2019) 136 ACSR 563; [2019] NSWCA 60 In the matter of Bobos Engineering Australian Pty Ltd [2015] NSWSC 2027 In the matter of Britten-Norman Pty Limited [2013] NSWSC 424 In the matter of Cresco Opus Fund (No 4) Pty Ltd (administrator appointed) [2019] NSWSC 941 In the matter of Edifice Australia Pty Limited [2019] NSWSC 1215 JEM Developments Pty Ltd v Hansen Yuncken Pty Ltd (2006) 60 ACSR 393; [2006] NSWSC 1378 Weriton Finance Pty Ltd v PNR Pty Ltd (in administration); Australian Residential and Commercial Finance Pty Ltd v PNR Pty Ltd (in administration) (2012) 92 ACSR 88; [2012] NSWSC 1402 Category: Principal judgment Parties: Liam Thomas Bailey in his capacity as Administrator of Grandview Ausbuilder Pty Ltd (ACN 601 108 267) (administrator appointed) (Applicant) Budget Demolition & Excavation Pty Ltd (ACN 084 229 872) (Plaintiff & Respondent) Grandview Ausbuilder Pty Ltd (ACN 601 108 267) (Administrator appointed) (Defendant) Representation: Counsel: Mrs C Perry (Applicant) Mr N Allan (Respondent)