Australian Securities and Investments Commission v Forge [2003] FCAFC 274

FEDERAL COURT OF AUSTRALIA

Australian Securities and Investments Commission v Forge [2003] FCAFC 274

BANKRUPTCY – bankruptcy notice – where bankruptcy notice based on orders of Supreme Court of New South Wales imposing pecuniary penalties under s 1317EA of the Corporations Law – whether the Court has a discretion to set aside a bankruptcy notice in circumstances where the debt is not provable in any ensuing bankruptcy

Bankruptcy Act 1966 (Cth) ss 30, 40, 41, 43, 44, 52, 115, 116, 123, 127 Corporations Law s 1317EA Federal Court of Australia Act 1976 (Cth) s 24 Athans, Re; Ex parte Athans (1991) 29 FCR 302 cited Briggs, Re; Ex parte Briggs v Deputy Commissioner of Taxation (WA) (1986) 12 FCR 310 cited Cooper Brookes (Wollongong) Proprietary Limited v Federal Commissioner of Taxation (1981) 147 CLR 297 cited Forge v ASIC [2003] FMCA 58 overruled Makhoul v Barnes (1995) 60 FCR 572 cited Ponsford, Baker & Co v Union of London and Smith's Bank Ltd [1906] 2 Ch 444 cited Sterling, Re; Ex parte Esanda Ltd (1980) 44 FLR 125 cited AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION v WILLIAM ARTHUR FORGE A 11 OF 2003 AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION v JOZSEF ENDRESZ A 12 OF 2003 AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION v ALLAN PAUL ENDRESZ A 13 OF 2003 AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION v DAWN ENDRESZ A 14 OF 2003 BRANSON, EMMETT AND STONE JJ 28 NOVEMBER 2003 SYDNEY (HEARD IN CANBERRA VIA VIDEO LINK TO SYDNEY)

IN THE FEDERAL COURT OF AUSTRALIA

AUSTRALIAN CAPITAL TERRITORY DISTRICT REGISTRY A 11 OF 2003

ON APPEAL FROM THE FEDERAL MAGISTRATES COURT OF AUSTRALIA

BETWEEN: AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION

APPELLANT

AND: WILLIAM ARTHUR FORGE

RESPONDENT

JUDGES: BRANSON, EMMETT AND STONE JJ