In the matter of Industrial Installation and Access Systems Pty Limited

Industrial Installation and Access Systems Pty Limited was the subject of a winding-up application filed in the Supreme Court of New South Wales by the Australian Securities and Investments Commission. The dispute centred on whether the company was insolvent and required to be wound up. A critical issue in the proceedings was whether the omission to comply with the Service and Execution of Process Act 1992 (NSW) when serving the originating process in another state rendered the application invalid. The court had to determine whether this procedural oversight was fatal to the application and if the court had the inherent power to dispense with the non-compliance where the defendant had received and acknowledged all other documents, appeared at the hearing, and was represented by counsel.

The court considered the principles of natural justice and fairness in its reasoning. It found that where the defendant had received all necessary documents, appeared at the hearing, and was represented by counsel, the court could exercise its inherent jurisdiction to dispense with the non-compliance with the Service and Execution of Process Act. The court concluded that the case for dispensing with service was established, and the non-compliance with the Act was not fatal to the application. The court was satisfied that the applicant had met the requirements for establishing insolvency and that the company was to be wound up.

The court ordered that Industrial Installation and Access Systems Pty Limited be wound up and appointed a liquidator. It further directed that the liquidator take control of the company's property and affairs and wind up the company in accordance with the Corporations Act 2001 (Cth). The court's decision emphasised the importance of procedural fairness and the inherent jurisdiction of the court to ensure that justice is done in individual cases, even in the face of procedural irregularities.