Lyford, M.H. & Anor v Commonwealth Bank of Australia [1995] FCA 334

CATCHWORDS CORPORATIONS - effect of winding up on other transactions - undue preference - what constitutes preference - two equitable mortgages by way of fixed and floating charge - whether charge can be a settlement - whether floating charge a settlement - whether fixed charges intended to be retained - whether fixed charges made in good faith - whether chargor insolvent at date of creation of each charge and whether chargee aware of insolvency. Corporations Law s565 Bankruptcy Act 1966 s120 CORPORATIONS - directors - fiduciary position - whether breach of fiduciary obligations in granting equitable mortgages - whether grantee participated in breach of fiduciary obligation. PROCEDURE - Amendment to pleadings - whether should be allowed after commencement of trial - whether amendment only raises construction point - whether amendment requires extrinsic evidence to be called. Federal Court Rules O13 r2 Bluecorp Pty Ltd (in liquidation) and Anor v ANZ Executors and Trustee Co Ltd (1993) 13 ACSR 386 Re Trautwein; Richardson v Trautwein (1944) 14 ABC 61 Re Hyams; Official Receiver v Hyams (1970) 19 FLR 230 Official Trustee v Marchiori (1983) 69 FLR 290 PT Garuda Indonesia Ltd v Grellmann (1992) 35 FCR 515 Official Trustee in Bankruptcy v Mitchell (1992) 38 FCR 364 Briginshaw v Briginshaw (1938) 60 CLR 336 Neat Holdings Pty Ltd v Karajan Holdings Pty Ltd (1992) 110 ALR 449. Re Player; Ex parte Harvey (1885) 15 QBD 682 Williams v Lloyd (1934) 50 CLR 341 Re Tankard (1899) 2 QB 57 Re La Rosa; Ex parte Norgard v Rocom Pty Ltd (1990) 21 FCR 270 Re Pahoff: Ex parte Ogilvie (1961) 20 ABC 17 Official Trustee in Bankruptcy v Arcadiou (1985) 8 FCR 4 Shrager v March [1908] AC 402

Re I A McGoldrick; Ex parte Australia and New Zealand Banking Group Ltd v The Official Trustee in Bankruptcy & Viceconte (Olney J, 26 February 1992, unreported) Re Zampatti; Ex parte R J Levack Ltd and Anor (Lee J, 21 April 1993, unreported) Landall Holdings Ltd v Caratti [1979] WAR 97 Hamilton v Hunter (1982) 7 ACLR 295 Re Margart Pty Ltd (in liq); Hamilton v Westpac Banking Corporation & Anor (1984) 9 ACLR 269 Driver v Broad (1893) 1 QB 744 Wallace v Evershed [1899] 1 Ch 891 Re Dawson [1915] 1 Ch 626 Re Pacific Projects Pty Ltd (1990) 2 Qd R 541 Re Florance; Ex parte Andrew (1983) 52 ALR 339 Government Stock and Other Securities Investment Co Ltd v Manila Railway Co Ltd [1897] AC 81 Illingworth v Houldsworth [1904] AC 355 Evans v Rival Granite Quarries [1910] 2 KB 979 Luckins v Highway Motel (Carnarvon) Pty Ltd (1975) 133 CLR 164 United Builders Pty Ltd v Mutual Acceptance Ltd (1980) 144 CLR 673 Tri-Continental Corporation v FCT [1988] 1 Qd R 474 Swiss Bank Corporation v Lloyd's Bank Ltd [1982] AC 584 Carreras Rothmans Ltd v Freeman Matthews Treasure Ltd [1985] Ch 207 Re Bond Worth Ltd [1980] 1 Ch 228 Askrigg Pty Ltd v Student Guild Curtin University of Technology (1989) 18 NSWLR 738 Barton v Official Receiver (1984) 4 FCR 380 Lego Australia Pty Ltd v Paraggio (1993) 44 FCR 151 Bank of Australasia v Hall (1907) 4 CLR 1514 Sandell v Porter (1966) 115 CLR 666 Re Toowong Trading Pty Ltd (in liq) (1988) 13 ACLR 121 Hymix v Garrity (1977) 13 ALR 321 Re Amour (1956) 18 ABC 69 Kyra Nominees Pty Ltd (in liq) v National Australia Bank Ltd (1986) 4 ACLC 400 Re Mike Electric (Aust) Pty Ltd (1983) 1 ACLC 758 Carrier Airconditioning Pty Ltd v Kurda (1993) 11 ACSR Re Norfolk Plumbing Supplies Pty Ltd (1992) 6 ACSR 601 Taylor v ANZ Banking Group Ltd (1986) 13 ACLR 780 Re RHD Power Services Pty Ltd (1990) 3 ACSR 261 Geraldton Building Co Pty Ltd v Woodmoore (1992) 8 ACSR 585 Williams and Glyn's Bank v Barnes [1980] Com LR 205 Universal Management (in liq) (1981) NZ CLC 95-026 3M Australia v Kemish (1986) 4 ACLC 185 Pioneer Concrete Pty Ltd v Ellston (1986) 10 ACLR 289 Londish v Gulf Pacific Pty Ltd (1993) 45 FCR 128 National Australia Bank Ltd v Nobile (1988) 100 ALR 227 Corozo Pty Ltd v Total Australia Ltd (1988) 2 Qd R 366 Rooper v Harrison (1885) 2 K & J 86 112; 69 ER 704 Jones v Barker [1909] 1 Ch 321 Codelfa Construction Pty Ltd v State Rail Authority of NSW (1982) 149 CLR 337 Re Interwest Hotels Pty Ltd (in liq) (1993) 12 ACSR 78 Schuler L AG v Wickman Machine Tool Sales Ltd [1974] AC 235 Helvetic Investment Corp Pty Ltd v Knight (1984) 9 ACLR 773