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Skyroad Logistics in chance to block winding up

Leave granted to oppose Tony Innaimo Transport over debt dispute

 

A failed relationship between Skyroad Logistics and Tony Innaimo Transport (TIT) has seen leave given in the Federal Court of Australia to oppose a winding-up attempt.

The dispute relates to $448,385.43 TIT claims it is owed. 

Skyroad had 21 days after a statutory demand was served to seek to have it set aside.

The firm failed to do so in time, allegedly due to ongoing legal discussions between the two firms’ respective lawyers.

These were with a view to resolving the problem and negotiating the terms of terminating their business relationship.


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Skyroad had contracts with Singapore Airlines from Coolangatta to Sydney and DHL between Melbourne and Sydney, while TIT did the Sydney distribution from its depot.

On November 1, 2016, the two firms entered into a shareholders deed of agreement. “Their business relationship involved TIT being, in effect, a subcontractor to Skyroad Logistics,” The Federal Court ruling states.

Skyroad paid many but not all TIT invoices between September 2016 and December 2017, with Skyroad raising questions about TIT’s methodology and invoice practices.

“As part of the business arrangement, TIT was allowed access to Skyroad Logistics’s accounting system to enter invoices but a dispute arose when Skyroad Logistics learned that TIT was submitting and approving its own invoices,” the ruling notes.

TIT’s expert also raised issues about Skyroad’s financial information system and practices.

Central to the winding-up argument is how the breakdown of the disputed debt relates to the solvency of Skyroad, with insolvency experts for both sides differing on the risk to its financial position.

Skyroad gave evidence that it did an internal audit of the invoices annexed to the statutory demand. That audit showed that of the total debt:

  • $254,089.24 was disputed by Skyroad as involving overcharging 
  • $194,296.19 was agreed and the company had the cash to cover it.

Had the larger figure been deemed crucial, it is possible the winding-up decision may have counted in TIT’s favour.

In the end, that there had been efforts already underway for a resolution held sway. The judge has sought agreement from the parties on orders for the future conduct of the proceeding. Barring that, a case management hearing will be ordered.

 

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