Promoseven Pty Ltd v Markey, in the matter of Bluechip Development Corporation (Cairns) Pty Ltd (in Liquidation) (Receivers and Managers Appointed) [2015] FCAFC 12

FEDERAL COURT OF AUSTRALIA

Promoseven Pty Ltd v Markey, in the matter of Bluechip Development Corporation (Cairns) Pty Ltd (in Liquidation) (Receivers and Managers Appointed) [2015] FCAFC 12 Citation: Promoseven Pty Ltd v Markey, in the matter of Bluechip Development Corporation (Cairns) Pty Ltd (in Liquidation) (Receivers and Managers Appointed) [2015] FCAFC 12

Appeal from: Promoseven Pty Ltd v Markey, in the matter of Bluechip Development Corporation (Cairns) Pty Ltd (in liquidation) (Receivers and Managers Appointed) [2013] FCA 1281

Parties: IN THE MATTER OF BLUECHIP DEVELOPMENT CORPORATION (CAIRNS) PTY LTD ACN 117 021 566 (IN LIQUIDATION) (RECEIVERS AND MANAGERS APPOINTED) PROMOSEVEN PTY LTD ACN 102 606 324 v NIGEL ROBERT MARKEY AND BRADLEY VINCENT HELLEN IN THEIR CAPACITY AS RECEIVERS AND MANAGERS AND LIQUIDATORS OF BLUECHIP DEVELOPMENT CORPORATION (CAIRNS) PTY LTD ACN 117 021 566, REFUND PROPERTY FEES PTY LTD ACN 145 709 360 and PRIME PROJECT DEVELOPMENT (CAIRNS) PTY LTD ACN 109 685 332

File number: QUD 835 of 2013

Judges: DOWSETT, COLLIER AND RANGIAH JJ

Date of judgment: 13 February 2015

Catchwords: CORPORATIONS LAW – Insolvency – Secured debts – Appeal from rejection of proof of debt – Where liquidators directed to consider whether debts secured – Where claim that debts secured by mortgage – Where mortgage expressed to secure "agreements" between joint venture vehicle and each joint venturer – Whether advances to joint venture vehicle, allegedly made pursuant to joint venture agreement, "agreements".

Legislation: Corporations Act 2001 (Cth) ss 554E, 588D, 1321 Corporations Regulations 2001 Federal Court (Corporations) Rules 2000 (Cth) reg 14.4 Property Law Act 1974 (Qld) s 55