Boys, in the matter of 38 Akuna Pty Ltd (deregistered) v Australian Securities and Investments Commission

Mr Boys, a former shareholder of 38 Akuna Pty Ltd, a company which was deregistered in 2016, sought the reinstatement of the company's registration in the Federal Court. The basis for the application was that Mr Boys believed there was an arguable cause of action against the company on the basis that the company had failed to remit the GST component of the purchase price of a unit to the Commissioner of Taxation. The Court was required to decide whether it was just to reinstate the registration of the company. The Court considered that it was appropriate to reinstate the registration of the company on the basis that Mr Boys had an arguable cause of action against the company. The Court held that it was just to reinstate the registration of the company. The Court further ordered that two new liquidators be appointed to the company. Finally, the Court ordered that the matter be listed for a case management hearing.