FEDERAL COURT OF AUSTRALIA
Geoff Woodham Financial Services Pty Ltd v GDK Financial Solutions Pty Ltd [2007] FCA 1523
GEOFF WOODHAM FINANCIAL SERVICES PTY LTD v GDK FINANCIAL SOLUTIONS PTY LTD & ORS
NSD323 OF 2005
EMMETT J
21 SEPTEMBER 2007
SYDNEY
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IN THE FEDERAL COURT OF AUSTRALIA |
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NEW SOUTH WALES DISTRICT REGISTRY |
NSD323 OF 2005 |
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BETWEEN: |
GEOFF WOODHAM FINANCIAL SERVICES PTY LTD Applicant
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AND: |
GDK FINANCIAL SOLUTIONS PTY LTD First Respondent
BOUNDUP PTY LTD Second Respondent
LYNPLAND PTY LTD Third Respondent
PETER LENNOX SHIELS Fourth Respondent
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EMMETT J |
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DATE OF ORDER: |
21 SEPTEMBER 2007 |
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WHERE MADE: |
SYDNEY |
THE COURT ORDERS THAT:
1. The application be dismissed.
Note: Settlement and entry of orders is dealt with in Order 36 of the Federal Court Rules.
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IN THE FEDERAL COURT OF AUSTRALIA |
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NEW SOUTH WALES DISTRICT REGISTRY |
NSD323 OF 2005 |
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BETWEEN: |
GEOFF WOODHAM FINANCIAL SERVICES PTY LTD Applicant
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AND: |
GDK FINANCIAL SOLUTIONS PTY LTD First Respondent
BOUNDUP PTY LTD Second Respondent
LYNPLAND PTY LTD Third Respondent
PETER LENNOX SHIELS Fourth Respondent |
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JUDGE: |
EMMETT J |
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DATE: |
21 SEPTEMBER 2007 |
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PLACE: |
SYDNEY |
REASONS FOR JUDGMENT
1 This matter was in Conti J’s docket. It was an application for the winding up of GDK Financial Solutions Pty Limited. At some stage, there were settlement negotiations which gave rise to a compromise agreement as a result of which the parties did not wish to proceed with the winding up application. Indeed, the company has now been wound up in other proceedings.
2 At least one of the parties understood that there was no need for any further step to be taken in relation to the proceeding, in the light of the provisions of s 459R of the Corporations Act 2001 (Cth) (the Act). Section 459R relevantly provides that an application for a company to be wound up in insolvency is to be determined within six months after it is made. Under s 459R(2), the Court may, by order, extend the period within which an application must be determined but only, relevantly, if the order is made within that period. Under s 459R(3), an application is taken to be dismissed if it is not determined as required by s 459R(1). It may well be that the proceeding has, in fact, been dismissed by the operation of that provision. However, the matter is still in the Court list, and the matter was listed today to ensure that no party wishes to have the matter maintained as a current proceeding. When the matter was called, there was no appearance for the applicant. The Registry of the Court has written to those involved with the parties, and each party has indicated it has no desire for the proceeding to remain on foot.
3 In all of the circumstances, whether it is necessary or not, I propose to order that the proceeding be dismissed.
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I certify that the preceding three (3) numbered paragraphs are a true copy of the Reasons for Judgment herein of the Honourable Justice Emmett. |
Associate:
Dated: 8 October 2007
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There were no appearances. |
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Date of Hearing: |
21 September 2007 |
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Date of Judgment: |
21 September 2007 |
