Horizon Star Pty Ltd v Carina Holdings Pty Ltd

The case of Horizon Star Pty Ltd v Carina Holdings Pty Ltd involved three separate applications to set aside statutory demands filed by the plaintiff, Horizon Star Pty Ltd, against Carina Holdings Pty Ltd, Wildbeach Corporation Pty Ltd, and Janice Irene Franke. Each demand was for a specified sum of money, with Carina demanding $145,700, Wildbeach demanding $59,595, and Franke demanding $14,432.08. These demands were based on a deed of transfer of shares dated February 2001, which Horizon had signed and which detailed the advances made by the defendants to Horizon. The defendants argued that the statutory demands were valid as Horizon had acknowledged the debt in the deed. Horizon contested the demands, arguing that there were genuine disputes and offsetting claims. The court found that Horizon had indeed acknowledged the debt in the deed and that the advances detailed in the deed were due and owing. The court further held that the plaintiff's arguments, including the claim of an offsetting sum, were inadmissible as they were raised outside the statutory 21-day period for setting aside the statutory demand. The court dismissed all three applications.