Thomas International Ltd v Humantech Pty Ltd

The case of Thomas International Ltd v Humantech Pty Ltd involved the determination of the insolvency status of four companies: AOC, ACT, Humantech, and JCS. The administrators of these companies sought to wind them up in insolvency, arguing that they were insolvent. Mr Schutte, the sole director of the Deed companies, opposed this application, seeking either an adjournment to allow more time to investigate the solvency of the companies or access to company computers and servers to enable experts to complete a joint report. The court had to determine whether the companies were indeed insolvent and whether the administrators' application for winding up should proceed.

The court found that the Deed companies were insolvent, as they had liabilities far exceeding their assets and were unable to meet their current liabilities. The court dismissed the arguments for adjournment, noting that there was no evidence of substantive income and that the companies were unable to meet their liabilities as they fell due. The court also noted that the administrators had already taken steps to wind up the companies, which would have the effect of deeming the companies to be wound up if the administrators' application was not granted.

The court ordered that each of the Deed companies be wound up in insolvency and that the administrators be appointed as their liquidators. The court also ordered that any notices required to be given or steps required to be taken by the Act, the Rules, or any prior order of the Court in relation to the making of the winding-up orders be dispensed with, and that the administrators' costs be taxed and reimbursed out of the property of the Deed companies. The court reserved all other costs for later argument.

The final orders of the court were that each of the Deed companies be wound up in insolvency, that the administrators be appointed as their liquidators, and that any notices required to be given or steps required to be taken be dispensed with. The court also ordered that the administrators' costs be taxed and reimbursed out of the property of the Deed companies and that all other costs be reserved for later argument. The proceedings were stood over for argument on outstanding issues to 1 December 2015, and the parties were required to prepare a timetable for evidence and submissions on the questions of costs and any other matters in dispute.