CORPORATIONS — winding up — winding up in insolvency — plaintiff seeks winding up on basis of unsatisfied statutory demand — defendant alleges abuse of process because some other proceeding more appropriate — no other proceeding between these parties on foot or proposed — defendant alleges lack of creditor status on plaintiff's part because relevant document not stamped as mortgage — s 459S precludes this argument (in any event mortgage not liable to ad valorem duty) — defendant attempts to prove solvency — relies on financial statements ten months old — main asset is land — contract for sale put into evidence — in substance an option to purchase only — directors undertakings not to call their loans offered — not appropriate — "indicative letter of offer" from lender — no certainty or commitment — no evidence from outside accountant — solvency not proved
Case Details
Citation[2011] NSWSC 500
CourtNSWSC
JurisdictionNew South Wales
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