The Court decided that, in its ordinary meaning, the word “undertake” connotes an expectation of performance.
Therefore, the Victorian Security of Payment Act was not available to claimants in liquidation.
In making this decision, the New South Wales Court decided that the Victorian Court of Appeal’s decision in in the context of the Victorian Court’s decision in Façade, and provide our insights on where this leaves respondents to Security of Payment claims by claimants in liquidation in New South Wales and Victoria.
As we will explain, we believe that respondents are in a stronger position than a quick reading of , the subcontractor claimant in liquidation (Ostwald) served payment claims on the contractor respondent (Seymour Whyte).
The Victorian Court considered whether, since it found that no valid payment schedule had been served, Façade could recover the amount of the payment claims as a debt due pursuant to s16(2)(a)(i) of the (Vic) (Victorian Security of Payment Act).
The New South Wales Court accepted that the Façade decision was directly on point, and therefore that it was bound to follow Façade unless convinced that the decision was “plainly wrong”.
During the liquidation process, the liquidators must file a report every three months with the D. Once the company’s assets have been completely liquidated, the liquidators must prepare a final accounting of the liquidation and summon a final general meeting of the shareholders by publishing a notice in the local newspaper and mailing a notice to the shareholders no later than seven days before the scheduled date of the meeting. Other legal expertise of the law firm varied in cases involving corporate law such as company registration & Thailand BOI, family law, property law, and private investigation.
This inconsistency gives rise to the constitutional question.We can represent the selling company in dealing with the acquiring company on matters relating to share transfers.Our audit approach assimilates rigorous standards of professional independence and objectivity, with a methodology that emphases on crucial risk areas and co-ordinates together our technical skill and practical knowledge commensurate with detailed knowledge of clients’ organization and the financial Read More We offer the entire range of audit and assurance services to meet clients’ business needs.Because the ground had been abandoned, the NSW Court of Appeal did not express a view on the correctness of the constitutional aspect of the reasoning in is inapplicable in New South Wales, because the “roll back” provisions (s5G) of the Corporations Act apply to the NSW Security of Payment Act.Therefore, His Honour said that, in a New South Wales case when the point arises, it will be necessary to examine the operation of the rollback provisions on the impugned provisions of the Security of Payment Act.