Thakran v TD TD Pty Ltd

[2019] FCA 829

FEDERAL COURT OF AUSTRALIA

Thakran v TD TD Pty Ltd [2019] FCA 829

File number:

NSD 292 of 2019

Judge:

JAGOT  J

Date of judgment:

28 May 2019

Catchwords:

CORPORATIONS- whether the plaintiff is a ‘person aggrieved’ by the deregistration of the company- whether it is just to reinstate the company- whether the company can be wound up immediately upon reregistration- application allowed.

Legislation:

Corporations Act 2001 (Cth) ss 459A, 459C(2)(a), 459P, 466(2),601AH(2)

Cases cited:

Australian Competition & Consumer Commission v Australian Securities & Investments Commission [2000] NSWSC 316; (2000) 174 ALR 688

In the Matter of Likehart Pty Ltd (deregistered) [2017] NSWSC 906

Partners in Enterprise Proprietary Limited v Sampson [2002] NSWSC 383

Date of hearing:

28 May 2019

Date of last submissions:

27 May 2019

Registry:

New South Wales

Division:

General Division

National Practice Area:

Commercial and Corporations

Sub-area:

Corporations and Corporate Insolvency

Category:

Catchwords

Number of paragraphs:

11

Counsel for the Plaintiff

Ms L. Hulmes

Solicitor for the Plaintiff

Clayton Utz

Counsel for the Intervener

Mr J. Pope

ORDERS

NSD 292 of 2019

BETWEEN:

RAVINDER SINGH THAKRAN

Plaintiff

AND:

TD TD PTY LTD (ACN 616 120 702)

First Defendant

SS RETAIL AUSTRALIA PTY LTD (ACN 158 400 438)
Second Defendant

KNCR SHARMA FAMILY NOMINEES PTY LTD (ACN 601 661 054)
Third Defendant

AUSTRALIAN SECURITIES AND INVESTMENT COMMISION
Fourth Defendant

NATALIE SHARMA

Intervener

JUDGE:	JAGOT  J
DATE OF ORDER:	28 MAY 2019

THE COURT ORDERS THAT:

1.The Fourth Defendant (ASIC) reinstate the registration of the Third Defendant pursuant to s 601AH(2) of the Corporations Act 2001 (Cth).

2.Immediately upon re-registration, the Third Defendant be wound up under the Corporations Act 2001 (Cth).

3.Glenn Livingtsone and Phil Quinlan of Level 25, One International Towers, 100 Barangaroo Avenue, Sydney in the State of New South Wales, registered liquidators, be appointed as liquidators of the Third Defendant Corporation.

4.The intervener, Natalie Sharma, pay the plaintiff’s costs insofar as they relate to the application to reinstate the registration of the Third Defendant.

5.The Plaintiff’s costs, insofar as they relate to the application to wind up the Third Defendant, be taxed and reimbursed out of the property of the Third Defendant in accordance with s 466(2) of the Corporations Act 2001 (Cth).

6.The Plaintiff provide a copy of these orders to ASIC within 24 hours.

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

REASONS FOR JUDGMENT

JAGOT J:

1. This is an application to reinstate a deregistered company, the third defendant, known as KNCR, which, prior to deregistration, had been served with a statutory demand and was taken to have failed to comply with that statutory demand. The application seeks reinstatement of the company under s 601AH(2) of the Corporations Act 2001 (Cth), and, immediately upon reregistration, the winding up of the company pursuant to ss 459A and 459P of the Act, being a winding up in insolvency, and ancillary orders for the appointment of liquidators.

2. The application is…