Australian Securities and Investments Commission v Lanepoint Enterprises Pty Ltd (Receivers and Managers Appointed)

Corporations law – Winding up in insolvency - Application for winding up by Australian Securities and Investments Commission - Where respondent presumed insolvent under s 459C(2)(c) of Corporations Act 2001 (Cth) ("Act") - Where principle applying under former companies legislation that company will not be wound up where debt subject of bona fide dispute on substantial ground - Whether principle applicable to Act in light of presumption of insolvency - Whether respondent solvent - Where primary judge did not accept respondent's explanation for alterations to accounts and no further evidence relevant to solvency could be identified by respondent - Whether primary judge's exercise of discretion miscarried in refusing to dismiss or stay proceedings - Whether necessary to join other parties.

Words and phrases – "except so far as the contrary is proved".

Corporations Act 2001 (Cth) – ss 459A, 459C, 459P, 467.