Ex parte Jubilee Investments Pty Ltd

[2004] FCA 319

FEDERAL COURT OF AUSTRALIA

Brenton Beef Processing Pty Ltd;  Ex parte Jubilee Investments Pty Ltd

[2004] FCA 319

BRENTON BEEF PROCESSING PTY LTD;  EX PARTE JUBILEE INVESTMENTS PTY LTD
Q43 OF 2004

COOPER J
BRISBANE
3 MARCH 2004

IN THE FEDERAL COURT OF AUSTRALIA
QUEENSLAND DISTRICT REGISTRY	Q43 OF 2004

RE:

BRENTON BEEF PROCESSING PTY LTD
ACN 104 505 188

EX PARTE:

JUBILEE INVESTMENTS PTY LTD
ACN 096  388 206

OXFORD EXPORTS AUSTRALIA PTY LTD
ACN 102 746 181

JUDGE:

COOPER J

DATE OF ORDER:

3 MARCH 2004

WHERE MADE:

BRISBANE

THE COURT ORDERS THAT:

(1)The time for lodgement with the Australian Securities and Investment Commission of the Form 350 concerning a charge in favour of the applicants be extended under s 266(4) of the Corporations Act 2001 (Cth) and until 12 March 2004;

(2)The lodgement of the Form 350 be accompanied by a copy of this order.

Note:   Settlement and entry of orders is dealt with in Order 36 of the Federal Court Rules.

IN THE FEDERAL COURT OF AUSTRALIA
QUEENSLAND DISTRICT REGISTRY	Q43 OF 2004

RE:

BRENTON BEEF PROCESSING PTY LTD
ACN 104 505 188

EX PARTE:

JUBILEE INVESTMENTS PTY LTD
ACN 096 388 206

OXFORD EXPORTS AUSTRALIA PTY LTD
ACN 102 746 181

JUDGE:	COOPER J
DATE:	3 MARCH 2004
PLACE:	BRISBANE

REASONS FOR JUDGMENT

1. This is an application made by Jubilee Investments Pty Ltd, pursuant to s 266(4) of the Corporations Act 2001 (Cth) (‘the Corporations Act’).

2. The applicant seeks an extension of time for lodgement with the Australian Securities and Investment Commission of the Form 350 concerning a charge in favour of the applicants under s 266(4) of the Corporations Act until 12 March 2004.

3. The affidavit material before me indicates that the grantee of the charge was obliged under the terms of the charge to procure its stamping and registration.  Due to a misunderstanding between the grantor and the grantee as to which party would, in fact, carry out this function, by inadvertence there was a failure on the part of both to procure the lodgement of the notice of charge as required by the statute within the time limit.

4. Accordingly, I am satisfied that I have power to grant an extension if I am persuaded that I should do so.  The relevant criteria are brought together in a judgment of Barrett J in Investa Properties Ltd v Westpac Property Funds Management (2001) 40 ACSR 124.

5. The material indicates that the company commenced trading at the end of 2003.  It has no outstanding creditors.  It is trading profitably on the accounts which have been produced to me and on that material there is no pending threat of liquidation.  In those circumstances I am satisfied that no further orders need to be made to protect a body of creditors generally in the circumstances discussed in Investa Properties v Westpac in pars 30 - 33.

6. Accordingly, the Court orders:

   (1)that the time for lodgement with the Australian Securities and Investment Commission of the Form 350 concerning a charge in favour of the applicants be extended under Section 266(4) of the Corporations Act 2001 (Cth) until 12 March 2004;

   (2)the lodgement of the Form 350 be accompanied by a copy of this order.

I certify that the preceding six (6) numbered paragraphs are a true copy of the Reasons for Judgment herein of the Honourable Justice Cooper.

Associate:

Dated:            24 March 2004

Counsel for the applicant:	G Beacham
Solicitor for the applicant:	Blake Dawson Waldron
Date of Hearing:	3 March 2004
Date of Judgment:	3 March 2004