Holli Managed Investments Pty Ltd v Australian Securities Commission & Anor [1998] FCA 1657

FEDERAL COURT OF AUSTRALIA CORPORATIONS – Dissolution of company – application to reinstate – whether dissolution extinguishes the debts of the dissolved company – whether dissolution extinguishes any right of indemnity in respect of those debts – whether a reinstatement order should be made to enable a secured creditor to carry out an investigation into the whereabouts of assets of the dissolved company – whether a secured creditor is able to appoint a receiver over the assets of a dissolved company – whether a secured creditor may apply for an examination under s 596B of the Corporations Law – whether failure to reinstate a dissolved company will impose undue hardship on the Australian Securities Commission

Corporations Law ss 574, 576, 578

Chief Commissioner of Stamp Duties v Buckle (1998) 72 ALJR 243 cited Dyke v Walford (1846) 5 Moo PCC 434 [13 ER 557] cited E R Ives Investment Ltd v High [1967] 2 QB 379 referred to GIO (NSW) v K A Reed Services Pty Ltd [1988] VR 829 applied Gosling v Gaskell [1897] AC 575 referred to In re FitzGeorge, Ex parte Robson [1905] 1 KB 462 cited In re Higginson & Dean, Ex parte The Attorney-General [1899] 1 QB 325 cited In re Perkins; Poyser v Beyfus [1898] 2 Ch 182 cited In re Wells; Swinburne–Hanham v Howard [1933] Ch 29 cited Megit v Johnson (1780) 2 Dougl 542 [99 ER 344] cited Octavo Investments Pty Ltd v Knight (1979) 144 CLR 360 cited R.W.G. Management Ltd v Commissioner for Corporate Affairs [1985] VR 385 cited Re Excel Finance Corp Ltd (1993) 10 ACSR 255 followed Re Otway Coal Co Ltd [1953] VLR 557 discussed Russian and English Bank v Baring Bros and Co Ltd [1936] AC 405 cited Taylor v Sanders [1937] VLR 62 cited Thomas v Todd [1926] 2 KB 511 referred to Tito v Waddell (No 2) [1977] Ch 106 discussed Tyman's Ltd v Craven [1952] 2 QB 100 referred to Vitamins Australia Ltd v Beta-Carotene Industries Pty Ltd (1987) 5 ACLC 802 discussed