Weston (Trustee) v Australian Securities and Investments Commission, in the matter of Empire Property and Investment Group Pty Ltd (Deregistered)

This case involved an application by Mr Weston, the trustee in bankruptcy of Ms Ridge, the sole shareholder and director of Empire Property and Investment Group Pty Ltd, a deregistered company, to have the company reinstated and wound up. The Australian Securities and Investments Commission opposed the application. The key legal issues before the court were whether Mr Weston, as the trustee in bankruptcy, was a "person aggrieved" under the relevant legislation, whether the court was satisfied it was just to reinstate the company's registration, and whether the trustee in bankruptcy could pass a resolution to wind up the company and should be appointed as liquidator. The court found that Mr Weston, as the trustee in bankruptcy, was indeed a "person aggrieved" as he had a legitimate interest in the company's assets and affairs. The court was satisfied that it was just to reinstate the company's registration as the urgency of the situation warranted it, and the interests of creditors would be protected by appointing a liquidator. The court also found that the trustee in bankruptcy could pass a resolution to wind up the company and should be appointed as liquidator.

In light of the findings, the court ordered that Empire Property and Investment Group Pty Ltd be reinstated forthwith and wound up under the Corporations Act 2001 (Cth). Mr Weston was appointed as the official liquidator of the company, and his costs were to be paid out of the company's assets. The court dispensed with all notification and advertising requirements in relation to the winding up application.