Re Lloyd Anthony Furniture Pty Ltd; Ex parte Walker

Samuel James Walker applied to the Federal Court for an extension of time to lodge a notice in respect of a charge created by a Bill of Sale over a machine. The Bill of Sale was executed by Lloyd Anthony Furniture Pty Ltd, now in liquidation, and was intended to secure a $20,000 loan from Walker. The Company failed to lodge the notice within the required 45-day period due to inadvertence. The court was required to decide whether to exercise its discretion under section 266(4) of the Corporations Law to extend the time for lodging the notice, considering the Company's liquidation.

The court considered the arguments of both parties, the relevant statutory provisions, and previous cases. The court found that the failure to lodge the notice was due to inadvertence, giving the court discretion to extend the time under section 266(4). However, the court noted that the winding up of the Company was a significant factor against granting an extension. The court considered the authorities which suggest that an extension of time would almost invariably be refused after the commencement of a winding up and will only be granted in exceptional circumstances. The court found that the circumstances of this case were insufficient to bring it into the category of exceptional cases in which an extension of time may appropriately be granted notwithstanding a winding up.

The court dismissed the application and will hear counsel as to costs.