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Can a company be wound up under section 461K for failing to achieve its objectives?
The NSW Supreme Court case of Gearhouse provides insight into the Court’s power to wind up a company under the Corporations Act 2001 (Cth). A combination of circumstances, including deadlock between shareholders, loss of confidence in management and an expired agreement, can lead to winding up.
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Just and equitable winding up for shareholder oppression
Discontinuing proceedings in the Federal Court of Australia can be costly, as the default position is that the discontinuing party pays the other party’s costs. However, the Court has discretion to award costs and may consider the parties’ conduct and reasons for discontinuance.
Just and equitable winding up
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