In the matter of Great Northern Developments Pty Ltd; In the matter of Ironbark Holdings Australia Pty Ltd

[2026] NSWSC 629

Supreme Court of NSW

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Interrogate

Catchwords

1. CORPORATIONS — statutory demands — applications to set aside — whether genuine dispute as to the amount or existence of the debt — where a statutory demand is set aside on the basis of a genuine dispute — where debt owing in a statutory demand is varied and a declaration is made as to its retrospective effect from the date of service

Quick Take

The Court set aside one statutory demand and varied another in two related applications under s 459G of the Corporations Act. In the Great Northern proceeding, the Court found a genuine dispute as to whether a loan's maturity date had been extended by an oral agreement, holding that the debtor company's evidence of a conversation reinstating a 3-year term had sufficient prima facie plausibility notwithstanding the creditor's denial. In the Ironbark proceeding, the Court found a genuine dispute as to $900,000 which was arguably an advance payment for off-the-plan property rather than a repayable debt, but no genuine dispute as to the remaining $276,461 deposited in 2024, and accordingly varied the demand to that lesser amount with retrospective effect from the date of service.