The Court dismissed both an application to set aside a statutory demand (as moot given the company was in liquidation) and an application to stay or terminate the winding up under s 482 of the Corporations Act. On standing, the Court held that where a creditor's claim had been compromised by a deed of settlement paid in full, the applicant failed to establish even an arguable case that the deed was liable to be set aside for undue influence, duress, unconscionable conduct, misleading conduct, or illegality, and therefore failed to establish standing as a creditor under s 482(1A). The Court left open the question of the precise standard required to establish creditor standing under s 482(1A) where the debt is disputed, and whether the deed must first be set aside in separate proceedings.
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