Sons of Gwalia Limited (Subject to Deed of Company Arrangement) v Margaretic [2006] FCAFC 17

FEDERAL COURT OF AUSTRALIA

Sons of Gwalia Limited (Subject to Deed of Company Arrangement) v Margaretic [2006] FCAFC 17 CORPORATIONS – company in administration – claim by member against the company for damages for misrepresentation inducing purchase of shares – whether debt provable under proposed deed of company arrangement – whether due to member in "capacity as a member" Corporations Act 2001 (Cth) s 563A Addlestone Linoleum Company, In re (1887) 37 Ch D 191 cited Australia and New Zealand Banking Group Limited v National Mutual Life Nominees Limited (1977) 137 CLR 252 cited Australasian Oil Exploration Limited v Lachberg (1958) 101 CLR 119 cited Automatic Bread Baking Co Ltd, Re (1939) 40 SR NSW 1 cited Cadence Asset Management Pty Ltd v Concept Sports Limited (2005) 55 ACSR 145 cited Cinnamond Park and Company Limited, In re [1930] NI 47 cited Dale and Plant Limited, In re (1889) 43 Ch D 255 discussed Davis Investments Pty Ltd v Commissioner of Stamp Duties (NSW) (1958) 100 CLR 392 cited Dividend Fund Incorporated (in liq), Re [1974] VR 451 discussed Harlou Pty Ltd (in liq), In re [1950] VLR 449 discussed Houldsworth v City of Glasgow Bank (1880) 5 App Cas 317 cited Hull and County Bank, In re (1880) 15 Ch D 507 cited Johnston v McGrath [2005] NSWSC 1183 discussed L B Holliday & Co Ltd, Re [1986] 2 All ER 367 cited London Passenger Transport Board v Moscrop [1942] AC 332 cited Oakes v Turquand (1867) LR 2 HL 325 cited Ooregum Gold Mining Co of India v Roper [1892] AC 125 cited Pyramid Building Society (in liq), Re (1991) 6 ACSR 405 discussed Media World Communications Ltd (admin apptd), Re (2005) 52 ACSR 346 cited Soden v British & Commonwealth Holdings Plc [1995] 1 BCLC 686; [1998] AC 298 adopted State of Victoria v Hodgson [1992] 2 VR 613 discussed Tennent v City of Glasgow Bank (1879) 4 App Cas 615 cited Trevor v Whitworth (1887) 12 App Cas 409 cited W H Eutrope & Sons Pty Ltd (in liq), In re [1932] VLR 453 cited Webb Distributors (Aust) Pty Ltd v State of Victoria (1993) 179 CLR 15 distinguished