Federal Court of Australia
FEDERAL COURT OF AUSTRALIA
Norman; in the matter of Forest Enterprises Limited v FEA Plantation Limited [2011] FCAFC 99 Citation: Norman; in the matter of Forest Enterprises Limited v FEA Plantation Limited [2011] FCAFC 99
Appeal from: Norman, in the matter of Forest Enterprises Australia Limited (Administrators Appointed) (Receivers & Managers Appointed) v FEA Plantations Ltd (Administrators Appointed) (Receivers Appointed) [2010] FCA 1444
Parties: TIMOTHY BRYCE NORMAN AND SALVATORE ALGERI IN THEIR CAPACITIES AS RECEIVERS AND MANAGERS OF FOREST ENTERPRISES AUSTRALIA LIMITED (RECEIVERS & MANAGERS APPOINTED) AND OF FEA CARBON PTY LTD (SUBJECT TO DEED OF COMPANY ARRANGEMENT) (RECEIVERS AND MANAGERS APPOINTED) AND AS CONTROLLERS OF TASMANIAN PLANTATION PTY LTD (SUBJECT TO DEED OF COMPANY ARRANGEMENT) (CONTROLLERS ACTING) AND OTHERS v FEA PLANTATIONS LTD (ADMINISTRATORS APPOINTED) (RECEIVERS APPOINTED) and FEA GROWERS GROUP INC A0054610B
File number(s): VID 1179 of 2010
Judges: JACOBSON, NICHOLAS AND YATES JJ
Date of judgment: 9 August 2011
Catchwords: CONTRACT – whether letter of commitment to provide financial support gave rise to binding agreement – whether parties had intention to create legal relations – whether requirement of consideration satisfied – whether agreement was certain EQUITY – equitable set-off – whether there is an entitlement to set-off against rent owing – covenant in lease to pay rent "without any deductions whatsoever" – whether covenant excluded entitlement to equitable set-off
Legislation: Corporations Act 2001 (Cth), ss 424, 601FA, 601FD, 913B Australian Securities & Investment Commission, Regulatory Guide 166: Licensing: Financial Requirements, (May 2010)
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