The Court granted leave under s 198G(3)(b) of the Corporations Act 2001 (Cth) to a former director to bring an application in the company's name to set aside a winding up order, and set aside the order under r 46.08 of the Supreme Court (General Civil Procedure) Rules 2025 (Vic). Applying the George Ward Steel criteria as refined in Annesley, the Court confirmed that an applicant need not prove solvency but must adduce evidence that 'indicates' solvency, and found this threshold met on the facts where current assets exceeded current liabilities, the company was profitable, the petitioning creditor had been paid, and no creditor opposed the application.
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