Federal Court of Australia
Federal Court of Australia
Masters v Lombe (liquidator), in the matter of Babcock & Brown Limited (in liq) [2021] FCAFC 161 Appeal from: Masters v Lombe (Liquidator); In the Matter of Babcock & Brown Limited (In Liq) [2019] FCA 1720
File number(s): NSD 1915 of 2019 NSD 1929 of 2019 NSD 1930 of 2019
Judgment of: MIDDLETON, BEACH AND COLVIN JJ
Date of judgment: 3 September 2021
Catchwords: CORPORATIONS – continuous disclosure obligations under s 674 of Corporations Act 2001 (Cth) – application of ASX listing rules 3.1 and 3.1A – non-disclosure of material information – shareholders' claims for damages under s 1317HA of Corporations Act – debts or claims provable in winding up – rejection of proofs of debt – appeals to the primary judge from rejection of proofs of debt – whether trial judge erred in making findings of non-contravention of s 674 – whether contraventions, if made, would have caused share price inflation – applicability of market based causation – no proof of contraventions – no proof of loss – appeals dismissed
Legislation: Corporations Act 2001 (Cth) ss 674, 677, 1317HA, 1321
Cases cited: Grant-Taylor v Babcock & Brown Ltd (in liq) (2016) 245 FCR 402 TPT Patrol Pty Ltd as trustee for Amies Superannuation Fund v Myer Holdings Ltd (2019) 140 ACSR 38
Division: General Division
Registry: New South Wales
National Practice Area: Commercial and Corporations
Sub-area: Commercial Contracts, Banking, Finance and Insurance
Number of paragraphs: 319
Date of hearing: 16 and 17 November 2020
We try to embed the page this law was scraped from. If the site blocks framing, you still get the link and a local excerpt.
Last checked with source on —
Checking whether the official page can be embedded…
Plain-English simplify of this law: a short summary, key points, and both sides of the argument. Generated on first view via Replicate, then cached. Vote on what helps your study.
No study brief is cached for this law yet. Sign up to generate a plain-English brief.
Sign up to generate