Je and RM Olive, in the matter of Olivers Earthmoving Pty Ltd v Olivers Earthmoving Pty Ltd

[2017] FCA 620

FEDERAL COURT OF AUSTRALIA

JE & RM Olive, in the matter of Olivers Earthmoving Pty Ltd v Olivers Earthmoving Pty Ltd [2017] FCA 620

File numbers:

QUD 872 of 2016
QUD 901 of 2016

Judge:

REEVES J

Date of judgment:

14 February 2017

Catchwords:

CORPORATIONS – application under s 461 of the Corporations Act 2001 (Cth) to wind up a partnership style company on just and equitable grounds – application granted

Legislation:

Corporations Act 2001 (Cth)

Federal Court (Corporations) Rules 2000 (Cth)

Date of hearing:

14 February 2017

Registry:

Queensland

Division:

General Division

National Practice Area:

Commercial and Corporations

Sub-area:

Corporations and Corporate Insolvency

Category:

Catchwords

Number of paragraphs:

3

QUD 872 of 2016 and
QUD 901 of 2016

Counsel for the Plaintiff:

Mr L Copley

Solicitor for the Plaintiff:

JHK Legal

Solicitor for the Defendant:

Mr A Lambros of Bennett & Philp

ORDERS

QUD 872 of 2016

IN THE MATTER OF OLIVERS EARTHMOVING PTY LTD ACN 104 683 687

BETWEEN:

JE & RM OLIVE ABN 67 641 617 402

Plaintiff

AND:

OLIVERS EARTHMOVING PTY LTD ACN 104 683 687

Defendant

JUDGE:	REEVES J
DATE OF ORDER:	14 FEBRUARY 2017

THE COURT ORDERS THAT:

1.Olivers Earthmoving Pty Ltd be wound up pursuant to s 461(1)(k) of the Corporations Act 2001 (Cth).

Note:    Entry of orders is dealt with in Rule 39.32 of the Federal Court Rules 2011.

QUD 901 of 2016
IN THE MATTER OF OLIVERS CIVIL PTY LTD ACN 152 669 460
BETWEEN:	JOSEPH EDWARD OLIVE Plaintiff
AND:	OLIVERS CIVIL PTY LTD ACN 152 669 460 Defendant

JUDGE:	REEVES J
DATE OF ORDER:	14 FEBRUARY 2017

THE COURT ORDERS THAT:

1.Olivers Civil Pty Ltd be wound up pursuant to s 461(1)(k) of the Corporations Act 2001 (Cth).

Note:    Entry of orders is dealt with in Rule 39.32 of the Federal Court Rules 2011.

REASONS FOR JUDGMENT

REEVES J:

1. I have before me two proceedings seeking to wind up two separate companies.  One relates to the company Olivers Earthmoving Pty Ltd and the other relates to Olivers Civil Pty Ltd.  I have been assured by Mr Copley for the plaintiff in each proceeding that all the necessary administrative steps have been taken in the two proceedings as prescribed by the Corporations Act 2001 (Cth) and the Federal Court (Corporations) Rules 2000 (Cth).

2. Both companies may be described as partnership companies with two shareholders or shareholding groups holding 50% of the shares each.  In the case of Olivers Earthmoving, they are held by Mr Joseph Edward Olive and St Ives Holding Pty Ltd.  Mr Austin is the sole shareholder of the latter.  In the case of Olivers Civil Pty Ltd, 50% of the shareholdings are held jointly by Mr Joseph Edward Olive and Ms Rachael Maree Olive, with the other 50% also held by St Ives Holding Pty Ltd. 

3. On the affidavit materials filed, I am satisfied that there is, and has been for some time, a deadlock in the management of these two companies. In all the circumstances, I am therefore of the opinion that it is just and equitable that the companies be wound up under s 461(1)(k) of the Corporations Act 2001 (Cth).

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

Associate:        

Dated:        31 May 2017