Mercantile Credits Ltd v. Dallhold Investments P/L [1994] FCA 738

JUDGMENT No. esses LL cc

CATCHWORDS

CORPORATIONS LAW - application for directions - powers of the liquidator - whether has power to assent or waive legal professional privilege on behalf of the company

Corporations Law $477 (2) (m)

Re Stanhill Consolidated [1967] VR 749 Commissjoner for Corporate Affairs v Eastoe (1989) 7 ACLC 1051

IN THE MATTER OF DALLHOLD INVESTMENTS PTY LIMITED IN LIQUIDATION) (RECEIVERS AND MANAGERS APPOINTED)

MERCANTILE CREDITS LTD v_ DALLHOLD INVESTMENTS PTY LIMITED IN LIQUIDATION)

No. NG 3039 of 1991

Sackville J. Sydney 13 October 1994

RECEIVED 14 OCT 1994

FEDERAL COURT OF

AUSTRALIA PRINCIPAL REGISTRY

FEDERAL COURT OF AUSTRALIA ) NEW SOUTH WALES DISTRICT REGISTRY ) No.3039 of 1991 GENERAL DIVISION )

IN THE MATTER OF DALLHOLD INVESTMENTS PTY LIMITED (IN LIQUIDATION) (RECEIVERS & MANAGERS APPOINTED)

(ACN 008 671 878)

BETWEEN:

MERCANTILE CREDITS LTD (ACN 000 030 508)

Applicant AND:

DALLHOLD INVESTMENTS PTY LIMITED (IN LIQUIDATION) (RECEIVERS & MANAGERS

APPOINTED) Respondent CORAM: SACKVILLE J. PLACE: SYDNEY DATE: 13 OCTOBER 1994 MINUTES OF ORDER THE COURT:

12. $=DIRECTS that the liquidator is justified in claiming legal professional privilege on behalf of the company in respect of documents within the custody, control or power of the Australian Securities Commission, provided the liquidator is of the view that such an assertion of claim is in the interests of the company or of the creditors of the company.

2. DIRECTS that the liquidator is justified in waiving legal professional privilege on behalf of the company in respect of any documents falling within the Search Warrant, provided that the liquidator is of the view that such a waiver is in the interests of the company or of the creditors of the company.

NOTE: Settlement and entry of orders is dealt with in Order 36 of the Federal Court Rules.