Hewlett-Packard Aust Pty Ltd v Exeed Pty Ltd [2004] FCA 135

FEDERAL COURT OF AUSTRALIA

Hewlett-Packard Aust Pty Ltd v Exeed Pty Ltd [2004] FCA 135

CORPORATIONS – charge – extension of time within which notice of particulars of charge and instrument creating charge or verified copy thereof required to be registered with Australian Securities and Investments Commission – defective execution of deed on behalf of chargees (signature by one director only) – significance of defective execution by chargees where effective execution by company/chargor – subsequent ratification by chargees by deed duly executed – discretionary considerations relevant to whether extension of time should be granted – solvency of chargor – oversight due to corporate merger and associated workload – lapse of some 17 months between expiry of statutory period allowed for registration and provisional registration of charge – extension of time granted subject to condition.

DEED – deed of fixed and floating charge duly executed by chargor but not duly executed as a deed by chargee companies (signature of one director only) – significance of defective execution by chargees where effective execution by chargor.

AGENCY – ratification – deed of fixed and floating charge duly executed by chargor but not duly executed as a deed by chargee companies (signature of one director only) – significance of defective execution by chargees – subsequent ratification by chargees by deed duly executed.

Corporations Act 2001 (Cth) ss 127, 263, 265, 266

Cooker v Child 1673) 2 Lev 74 (83 ER 456) cited Otway v Braithwaite (1678) Finch 405 cited Butler v Powis (1845) 2 Coll 156 (63 ER 679) cited Sunderland Marine Insurance Co v Kearney (1851) 16 QB 925 (117 ER 1136) cited Hungerford v Becher (1855) 5 Ir Ch R 417 cited Chelsea and Walham Green Building Society v Armstrong [1951] Ch 853 cited Lincoln Contractors Pty Ltd v Searle [1982] Qd R 71 cited Carter v Schmierer [2003] QSC 035 cited Green v Horne (1795) 1 Salk 197 (91 ER 177) cited Federal Commissioner of Taxation v Sara Lee Household & Body Care (Australia) Pty Limited (2000) 201 CLR 520 cited Hamilton v Property Investments Ltd (1983) 7 ACLR 932 cited