FEDERAL COURT OF AUSTRALIA
Cooper as Official Liquidator of Line 1 Pty Ltd (In Liq) (ACN 094 650 361) v Commissioner of Taxation [2007] FCA 1626
NICHOLAS DAVID COOPER AS OFFICIAL LIQUIDATOR OF LINE 1 PTY LTD (IN LIQUIDATION) (ACN 094 650 361) v COMMISSIONER OF TAXATION
No SAD 6 of 2007
FINN J
24 OCTOBER 2007
ADELAIDE
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IN THE FEDERAL COURT OF AUSTRALIA |
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South Australia DISTRICT REGISTRY |
SAD 6 OF 2007 |
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BETWEEN: |
NICHOLAS DAVID COOPER AS OFFICIAL LIQUIDATOR OF LINE 1 PTY LTD (IN LIQUIDATION) (ACN 094 650 361) Applicant
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AND: |
COMMISSIONER OF TAXATION Respondent |
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JUDGE: |
FINN J |
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DATE: |
24 October 2007 |
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PLACE: |
Adelaide |
REASONS FOR JUDGMENT
1 The parties in this matter have, by consent, sought that I make certain declarations and orders in respect of what were claimed to be voidable transactions within the meaning of s 588FE of the Corporations Act 2001 (Cth) these transactions being, variously, uncommercial transaction payments and unfair preference payments made by Line 1 Pty Ltd to the respondent between 8 January 2005 and 15 June 2005. An agreed statement of facts with accompanying annexures and exhibits were filed in support of the proposed orders.
2 I am satisfied having regard to those materials, and in particular to the Official Liquidator’s report on the insolvency of Line 1, that the company was insolvent from 1 January 2005 until the company was wound up in January 2006. I equally am satisfied that the various payments made by Line 1 to the respondent had the characteristics attributed to them in the consent orders.
3 Accordingly I will make the orders sought which are in the attached consent minutes of orders.
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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 Finn. |
Associate:
Dated: 24 October 2007
IN THE FEDERAL COURT OF AUSTRALIA
SOUTH AUSTRALIA DISTRICT REGISTRY
No: SAD 6/2007
NICHOLAS DAVID COOPER AS OFFICIAL LIQUIDATOR OF LINE 1 PTY LTD (IN LIQUIDATION) ACN 094 650 361
Plaintiff
COMMISSIONER OF TAXATION
First Defendant
NICHOLAS ANDREW WILLIAMSON
Second Defendant
ORDER
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JUDGE:
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Justice Finn |
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DATE OF ORDER:
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24 October 2007 |
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WHERE MADE:
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Adelaide |
THE COURT DECLARES BY CONSENT THAT:
1. The uncommercial transaction payments made by Line 1 Pty Ltd ACN 094 650 361 (in liquidation (Line 1) to the Respondent between the period 8 February 2005 to 9 June 2005 were voidable transactions within the meaning of section 588FE of the Corporations Act 2001.
2. The unfair preference payments made by Line 1 to the Respondent between the period 27 April 2005 and 15 June 2005 were voidable transactions within the meaning of s 588FE of the Corporations Act 2001.
THE COURT ORDERS BY CONSENT THAT:
1. Pursuant to s 588FF of the Corporations Act 2001, the Respondent pay to the Applicant the sum of $68,599.00, inclusive of prejudgment interest and costs.
2. The matter is otherwise dismissed.
Date that entry is stamped:
DISTRICT REGISTRAR
