Pace & Anor v Antlers Pty Ltd (in liq)

(1998) 16 ACLC 261

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BETWEEN: CHARLIE PACE & ANOR - Applicants
AND: ANTLERS PTY LTD (IN LIQ) - Respondent

Court:

Judge: LINDGREN J

Subject References:
CORPORATIONS
winding up
liquidators
duties of liquidators
duty to bring solvent company out of liquidation within a reasonable time
costs and expenses of the winding up
whether income tax liability of company resulting from its management by de facto directors a cost or expense of the winding up
failure by liquidator to pay income tax and resultant incurring of liability to additional tax by way of penalty for late payment
remuneration
invalid approval by creditors
liquidator innocently appropriating company funds in payment of his remuneration without due authority
liability to pay interest on amounts so appropriated

Legislative References:
Companies Act 1961 (NSW) - s 292(1)(a)
Income Tax Assessment Act 1936 (Cth) - s 215
Taxation Administration Act 1953 (Cth) - s 14ZZM; s 14ZZR

Case References:
McAusland v Commissioner of Taxation (Referred to) - (1993) 47 FCR 369
Home v Walsh (Distinguished) - [1978] VR 688
Windsor Steam Coal Co Ltd (Considered) - [1929] 1 Ch 151
Maelor Jones Investments (Noarlunga) Pty Ltd v Heywood-Smith (Considered) - (1989) 54 SASR 285
Re House Property & Investment Co (Followed) - [1954] Ch 576
Re Mineral Securities Australia Ltd (in liq) (Distinguished) - [1973] 2 NSWLR 207
Shiraz Nominees (in liq) v Collinson (Distinguished) - (1985) 10 ACLR 7
Re Crawford House Press Pty Ltd (Distinguished) - (1995) 17 ACSR 295
Re Beni-Felkai Mining Co Ltd (Considered) - [1934] 1 Ch 406
Re Mesco Properties Ltd (Considered) - [1980] 1 All ER 117
Re Mesco Properties Ltd (Considered) - [1979] 1 WLR 558
Yeomans v Walker (Considered) - (1986) 5 NSWLR 378
Re Spedley Securities Ltd (in liq) (Distinguished) - (1992) 10 ACLC 1742
Pacific Acceptance Corporation Ltd v Forsyth (Considered) - (1970) 92 WN (NSW) 29

Judgment date: 12 JANUARY 1998

Sydney

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ORDER

THE COURT ORDERS THAT:

1. The proceeding be stood over to 16 February 1998 at 9.30 am.

2. By 11 February 1998, the parties supply to the Associate to Lindgren J agreed short minutes of the orders to be made on the date referred to in order (1), or, if agreement has not been reached, the respective short minutes of the orders for which they will contend and written submissions in support.

Note: Settlement and entry of orders is dealt with in Order 36 of the Federal Court Rules.