Cooper as Official Liquidator of Line 1 Pty Ltd (In Liq) (ACN 094 650 361) v Commissioner of Taxation

[2007] FCA 1626

FEDERAL COURT OF AUSTRALIA

Cooper as Official Liquidator of Line 1 Pty Ltd (In Liq) (ACN 094 650 361) v Commissioner of Taxation [2007] FCA 1626

NICHOLAS DAVID COOPER AS OFFICIAL LIQUIDATOR OF LINE 1 PTY LTD (IN LIQUIDATION) (ACN 094 650 361) v COMMISSIONER OF TAXATION

No SAD 6 of 2007

FINN J
24 OCTOBER 2007
ADELAIDE

IN THE FEDERAL COURT OF AUSTRALIA
SOUTH AUSTRALIA DISTRICT REGISTRY	SAD 6 OF 2007

BETWEEN:	NICHOLAS DAVID COOPER AS OFFICIAL LIQUIDATOR OF LINE 1 PTY LTD (IN LIQUIDATION) (ACN 094 650 361) Applicant
AND:	COMMISSIONER OF TAXATION Respondent

JUDGE:	FINN J
DATE:	24 OCTOBER 2007
PLACE:	ADELAIDE

REASONS FOR JUDGMENT

1. The parties in this matter have, by consent, sought that I make certain declarations and orders in respect of what were claimed to be voidable transactions within the meaning of s 588FE of the Corporations Act 2001 (Cth) these transactions being, variously, uncommercial transaction payments and unfair preference payments made by Line 1 Pty Ltd to the respondent between 8 January 2005 and 15 June 2005. An agreed statement of facts with accompanying annexures and exhibits were filed in support of the proposed orders.

2. I am satisfied having regard to those materials, and in particular to the Official Liquidator’s report on the insolvency of Line 1, that the company was insolvent from 1 January 2005 until the company was wound up in January 2006. I equally am satisfied that the various payments made by Line 1 to the respondent had the characteristics attributed to them in the consent orders.

3. Accordingly I will make the orders sought which are in the attached consent minutes of orders.

I certify that the preceding three (3) numbered paragraphs are a true copy of the Reasons for Judgment herein of the Honourable Justice Finn.

Associate:

Dated:        24 October 2007

IN THE FEDERAL COURT OF AUSTRALIA

SOUTH AUSTRALIA DISTRICT REGISTRY  

No:  SAD 6/2007

NICHOLAS DAVID COOPER AS OFFICIAL LIQUIDATOR OF LINE 1 PTY LTD (IN LIQUIDATION) ACN 094 650 361
Plaintiff

COMMISSIONER OF TAXATION
First Defendant

NICHOLAS ANDREW WILLIAMSON
Second Defendant

ORDER

JUDGE:	Justice Finn
DATE OF ORDER:	24 October 2007
WHERE MADE:	Adelaide

THE COURT DECLARES BY CONSENT THAT:

1.The uncommercial transaction payments made by Line 1 Pty Ltd ACN 094 650 361 (in liquidation (Line 1) to the Respondent between the period 8 February 2005 to 9 June 2005 were voidable transactions within the meaning of section 588FE of the Corporations Act 2001.

2.The unfair preference payments made by Line 1 to the Respondent between the period 27 April 2005 and 15 June 2005 were voidable transactions within the meaning of s 588FE of the Corporations Act 2001.

THE COURT ORDERS BY CONSENT THAT:

1.Pursuant to s 588FF of the Corporations Act 2001, the Respondent pay to the Applicant the sum of $68,599.00, inclusive of prejudgment interest and costs.

2.        The matter is otherwise dismissed.

Date that entry is stamped: 

DISTRICT REGISTRAR