About 30 minutes ago, the Supreme Court ordered that MUSU to be wound up based on 2 grounds: (1) it is just and equitable and (2) financial solvency. The liquidation scenario will be based under the s34 of the Association Incorporation Act 1981 and to the extends of the Corporation Acts (Commonwealth). The Liquidator would be the same as the Provisional Liquidator. The University stated that ‘..it has no choice but to support the application of Ms Lim..”, basing its conclusion from variety of reports including Ernst and Young, as well as the Provisional Liquidator report as at 31st January 2004.
So, what now. There are many things that could happen if an organisation is under liquidation scenario. It could trade back normally and come out of liquidation scenario. Otherwise, we are looking at a new student association.
Either way, the students at the the University should feel glad (despite mixed reactions) that finally students interests are taken care of, at least for now. If a new association to be set up, it would be ideal for the University in engaging a wide variety of students organisations (political or otherwise), to ensure that students interests are first and foremost!
In the mean time, im not sure what those Purported Office Bearers gonna do now. To be honest, i dont care. Because they dont care about students either. It is as simple as it is.
