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Benchmark
A daily Bulletin listing our choice of Decisions of Superior Courts of Australia.
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Construction
Thursday, 4 December 2014
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| Executive Summary (One Minute Read) |
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| In2Ply Pty Ltd v Amerind Pty Ltd (in liq) (VSC) - corporations - statutory demand - no debt ‘due and payable' - demand set aside |
| Summaries With Link (Five Minute Read) |
In2Ply Pty Ltd v Amerind Pty Ltd (in liq) [2014] VSC 603
Supreme Court of Victoria
Randall AsJ
Corporations - plaintiff sought to set aside statutory demand served upon it by defendant - defendant claimed plaintiff did not have an offsetting claim within s459(1)(b) Corporations Act 2001 (Cth) - held: at date of service of statutory demand, and at date for compliance with it, there was no debt due and payable to defendant - debt that existed to support a statutory demand must be ‘due and payable' and remain due and payable during entire period for compliance - Court satisfied plaintiff had a genuine cross-claim against defendant which exceeded the amount set out in the statutory demand and was a valid offsetting claim under s459H(2) - statutory demand set aside.
In2Ply Pty Ltd |
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