An, in the matter of Ganaan Pty Ltd (in Liq) (ACN 099568 760) [2006] FCA 158 (24 February 2006)

An; in the matter of Ganaan Pty Ltd (in Liq) (ACN 099 568 760) [2006] FCA 158

IN THE MATTER OF GANAAN PTY LTD (IN LIQUIDATION) ACN 099 568 760
DEPUTY COMMISSIONER OF TAXATION v GANAAN PTY LTD (IN LIQUIDATION); LEE YOUNG AN
NSD 2100 OF 2005

GYLES J
24 FEBRUARY 2006
SYDNEY

IN THE FEDERAL COURT OF AUSTRALIA
NEW SOUTH WALES DISTRICT REGISTRY	NSD 2100 OF 2005

BETWEEN:	DEPUTY COMMISSIONER OF TAXATION PLAINTIFF
AND:	GANAAN PTY LTD (IN LIQUIDATION) DEFENDANT LEE YOUNG AN APPLICANT
JUDGE:	GYLES J
DATE OF ORDER:	24 FEBRUARY 2006
WHERE MADE:	SYDNEY

THE COURT ORDERS THAT:

The winding up of Ganaan Pty Ltd by order of the Court made on 3 February 2006 be terminated.

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

IN THE FEDERAL COURT OF AUSTRALIA
NEW SOUTH WALES DISTRICT REGISTRY	NSD 2100 OF 2005

BETWEEN:	DEPUTY COMMISSIONER OF TAXATION PLAINTIFF
AND:	GANAAN PTY LTD (IN LIQUIDATION) DEFENDANT LEE YOUNG AN APPLICANT

JUDGE:	GYLES J
DATE:	24 FEBRUARY 2006
PLACE:	SYDNEY

1 This is an application to stay or terminate a winding up order. The winding up order was made on the basis of non-fulfilment of a statutory demand. The evidence shows that the demand was served at the registered address of the company which in fact was no longer practically used for that purpose and there was a failure of communication between the company and its accountant in that respect. The order was made only on 3 February last and no creditor appeared on that occasion to support or oppose the making of the petition notwithstanding the fact that there had been the usual advertisements.

2 I have been provided with evidence from the external accountant of the defendant as to the financial accounts up to 3 February showing both a surplus of assets over liabilities and current profitable trading although that profit is fairly marginal. The plaintiff Commissioner has been paid out. The liquidator's costs have been paid and my reading of the affidavit from the liquidator does not indicate any cause for concern about inflicting on the public an insolvent company if an order is made.

3 This seems to me to be a case of a very recent winding up by inadvertence with a discretion to be exercised in favour of the applicant. I make Order 2 as asked in the interlocutory process. I should note that the plaintiff consents to the order. That order is made.

I certify that the preceding three (3) numbered paragraphs are a true copy of the Reasons for Judgment herein of the Honourable Justice Gyles.

Solicitor for the Plaintiff:	N Oram of Legal Services Branch, Australian Taxation Office

	There was no appearance for the defendant

Solicitor for the Applicant:	CI Yoo of KP Lawyers

Date of Hearing:	24 February 2006

Date of Judgment:	24 February 2006

Federal Court of Australia

An, in the matter of Ganaan Pty Ltd (in Liq) (ACN 099568 760) [2006] FCA 158 (24 February 2006)