The Court wound up the company in insolvency, holding that service of a statutory demand at a company's registered office recorded with ASIC was effective under s 109X(1)(a) notwithstanding the company had changed accountants and neglected to update its registered address. The Court refused leave under s 459S(2) on the basis that the default judgment underpinning the demand was res judicata and could not found a genuine dispute while it remained undisturbed, and that in any event the judgment debt was not material to proving solvency given the company's balance sheet insolvency once related-party loans were properly reclassified as non-current assets. The Court also declined to exercise its discretion under s 467(1)(a) to dismiss the application, finding no abuse of process where the creditor pursued winding up after obtaining a substantive default judgment and the company's own non-compliance with court orders precipitated that judgment.
The full text is available to signed-in members, including the 1 later case that cites this judgment.