Sons of Gwalia Ltd v Margaretic
| Jurisdiction | Australia Federal only |
| Judge | Gleeson CJ |
| Judgment Date | 31 January 2007 |
| Neutral Citation | [2007] HCA 1,2007-0131 HCA A |
| Court | High Court |
| Docket Number | Matter No S208/2006 |
| Date | 31 January 2007 |
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40 cases
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The Companies Act (2023 Revision) and HQP Corporation Ltd (in Official Liquidation)
...on the basis that the answer to Issue 2 is supplied by the decision of the High Court of Australia in Sons of Gwalia Ltd v Margaretic [2007] HCA 1; [2007] 3 LRC 462 (“ Sons of Gwalia”), being the most recent and leading Commonwealth authority on the point and which deals with all the earlie......
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The Companies Act (2023 Revision) and HQP Corporation Ltd (in official liquidation)
...on the basis that the answer to Issue 2 is supplied by the decision of the High Court of Australia in Sons of Gwalia Ltd v Margaretic [2007] HCA 1; [2007] 3 LRC 462 (“ Sons of Gwalia”), being the most recent and leading Commonwealth authority on the point and which deals with all the earlie......
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The Companies Act (2022 Revision) and Direct Lending Income Feeder Fund, Ltd (in Official Liquidation)
...in this jurisdiction and, furthermore, is to be preferred to that of the majority of Justices in the High Court of Australia in Sons of Gwalia Ltd v Margaretic [2007] 3 LRC 462. (b). the claims of holders of redeemable preference shares who gave notice of and completed the process of redem......
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Australian Securities and Investments Commission v GetSwift Limited (Liability Hearing)
...Act and ss 12DA and 12DB of the ASIC Act. Justice Martin (at 94 [152]) cited the following paragraph from Sons of Gwalia Ltd v Margaretic [2007] HCA 1; (2007) 231 CLR 160 (at 214 [135] per Hayne JA):Justice Hayne (with whom Kirby J (on this point), Heydon and Crennan JJ agreed) said:A perso......
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13 firm's commentaries
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Out With The Hould: Landmark Decision Paves The Way For Shareholder Misrepresentation Claims Against Companies In Liquidation
...in Soden v British & Commonwealth Holdings Plc [1998] A.C. 298 8. High Court of Australia decision in Sons of Gwalia Ltd v Margaretic [2007] HCA 1; [2007] 3 LRC 462 9. Televest Ltd (12 July 1995) 10. Section 139(1) sets out the debts which are provable in a company's liquidation and provide......
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Cayman Court Dispenses With The Houldsworth Rule
...envisaged by their Lordships in Houldsworth's case...I find that the circumstances before me are different and distinguishable." 6. (2007) 231 CLR 160. 7. Sons of Gwalia at 8. Sons of Gwalia at [20]. 9. Following Sons of Gwalia, legislation was passed by the Australian Parliament (the Corpo......
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Shareholder Claims in Insolvency - Reversal of Sons of Gwalia
...Introduction decision of the High Court in Sons of Gwalia Ltd (Subject to Deed of Company Arrangement) v Margaretic & Anor [2007] HCA 1 (Sons of Gwalia) has sparked significant debate as to whether shareholder claims against a company should be postponed until the claims of the company'......
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Shareholder Claims Against Insolvent Companies - Sons Of Gwalia
...company that ranks on a par with other creditors. Footnotes 1 Sons of Gwalia Ltd -v- Margaretic (2007) 232 ALR 232 (Sons of Gwalia) 2 (2007) 232 ALR 232 Swaab was recently named winner 'Best Law Firm in Australia (Revenue 2008 BRW- Client Choice Awards. The content of this article is intend......
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2 books & journal articles
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Houldsworth: an obsolete piece in the legislative puzzle.
...22, 51. (31) Houldsworth (1880) 5 App Cas 317, 335-340. (32) Sons of Gwalia Ltd (subject to deed of company arrangement) v Margaretic (2007) 231 CLR 160 ('Sons of Gwalia Ltd'), 195-201 (Gummow J). (33) [1897] AC 22. (34) The Winding-up Act 1862 (UK), ss 38(7), 131, 158. (35) Murray Pickerin......
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The Role of Shareholders during Corporate Rescue Proceedings: Always on the Outside Looking In?
...companies, a situation which many commentators regard as lamentable.9In Australia, eg, the decision in Sons of Gwalia Ltd v Margaretic (2007) 231 CLR 160 started alarge-scale discussion on the nature of shareholders’ claims against the insolvent company.10The term ‘shareholders’ will be use......