In the matter of Global Alliance Corporation Pty Ltd [2020] NSWSC 119

Supreme Court New South Wales

Medium Neutral Citation: In the matter of Global Alliance Corporation Pty Ltd [2020] NSWSC 119 Hearing dates: 17 February 2020 Decision date: 17 February 2020 Jurisdiction: Equity Before: Emmett AJA Decision: 1. Pursuant to s 480(d) of the Corporations Act 2001 (Cth) (the Act), within 60 days of the date of these orders: a. The Applicant, Mr Schon Condon, be released as Official Liquidator of the Company; and b. The Australian Securities and Investments Commission (ASIC) deregister the Company. 2. Pursuant to s 488(2) of the Act and within 21 days of the date of these orders, grant the Applicant special leave to distribute the surplus assets of the Company, being the amount of $53,598.31, to its shareholder Global Custodian Corporation Pty Ltd (ACN 099 848 156). 3. Pursuant to reg 5.6.71(1) of the Corporations Regulations 2001 (Cth), the Court dispense with the requirement to annex a Form 551 to Order 2. 4. Pursuant to r 1.3(1) of the Supreme Court (Corporations) Rules 1999 (NSW), the Court dispense with the requirement under rr 7.9(2) and 7.9(3) that the Applicant publish a notice in accordance with Form 15. 5. The Applicant's costs and expenses of the application be paid out of the assets of the Company. Catchwords: CORPORATIONS — Winding up — Liquidators — Status Legislation Cited: Corporations Act 2001 (Cth), ss 480, 488 and 601AH Corporations Regulations 2001 (Cth), Reg 5.6.71 Supreme Court (Corporations) Rules 1999 (NSW), rr 1.3, 7.5 and 7.9 Category: Principal judgment Parties: Global Alliance Corporation Pty Ltd (Applicant) The Owners of Strata Plan 42936 (Respondent) Representation: Solicitors: M Mulvenna (Applicant) No appearance (Respondent) File Number(s): 2011/171459