The Court granted leave under s 500(2) of the Corporations Act 2001 (Cth) to proceed with a counterclaim against a company in voluntary liquidation, applying established principles from [name withheld] and [name withheld]. Key factors favouring the grant were that the counterclaim raised serious questions to be tried (with many allegations admitted), the counterclaim was interlinked with the defence to the company's own claim and would be heard concurrently, continued prosecution would not materially delay the winding up, and the company in liquidation identified no particular prejudice and filed no materials in opposition. The application was initially brought under the incorrect provision (s 471B) but was permitted to proceed under s 500(2) after a liquidator was appointed following a creditors' voluntary winding up resolution.
The full text is available to signed-in members.