Diddams v Commonwealth Bank of Australia [1998] FCA 839

FEDERAL COURT OF AUSTRALIA CORPORATIONS LAW – statutory and common law duties of a receiver – whether receiver failed to take reasonable care in selling business – no question of principle. Corporations Law ss 79, 232(4), 420A, 1317DB, 1317HD, 1324(1)

DIDDAMS & ORS v

COMMONWEALTH BANK OF AUSTRALIA & ANOR

NG 3401 of 1996 BRANSON J SYDNEY 17 JULY 1998

IN THE FEDERAL COURT OF AUSTRALIA

NEW SOUTH WALES DISTRICT REGISTRY NG 3401 of 1996

BETWEEN: JOHN FLOWER DIDDAMS

First Applicant

JANE LAVINA DIDDAMS

Second Applicant

WHITFIELD INVESTMENTS PTY LIMITED (ACN 002 653 796)

Third Applicant

BARROT PTY LIMITED (ACN 003 562 445)

Fourth Applicant

AND: COMMONWEALTH BANK OF AUSTRALIA (ACN 123 123 124)

First Respondent AND CROSS CLAIMANT

PETER MURRAY WALKER

Second Respondent AND CROSS CLAIMANT

JUDGE(S): BRANSON J

DATE OF ORDER: 17 JULY 1998

WHERE MADE: SYDNEY

THE COURT ORDERS THAT: The respondents are to bring in within seven days of today's date short minutes of order to reflect the reasons for judgment published today. Note: Settlement and entry of orders is dealt with in Order 36 of the Federal Court Rules.

IN THE FEDERAL COURT OF AUSTRALIA

NEW SOUTH WALES DISTRICT REGISTRY NG 3401 of 1996

BETWEEN: JOHN FLOWER DIDDAMS

First Applicant

JANE LAVINA DIDDAMS

Second Applicant

WHITFIELD INVESTMENTS PTY LIMITED (ACN 002 653 796)

Third Applicant

BARROT PTY LIMITED (ACN 003 562 445)

Fourth Applicant

AND: COMMONWEALTH BANK OF AUSTRALIA (ACN 123 123 124)

First Respondent AND CROSS CLAIMANT

PETER MURRAY WALKER

Second Respondent AND CROSS CLAIMANT