McLellan v Australian Stock Exchange Limited [2005] FCA 585

FEDERAL COURT OF AUSTRALIA

McLellan v Australian Stock Exchange Limited [2005] FCA 585 CORPORATIONS – deed of company arrangement – creditors – participant in Stock Exchange – breach of operating rules – fine imposed – whether fine a contingent debt WORDS & PHRASES – contingent debt Corporations Act 2001 (Cth) s 793B A Debtor, No. 68 of 1911, In re [1911] 2 KB 652 discussed Australian Stock Exchange Ltd v McLachlan (2002) 43 ASCR 362 discussed Bluck, In re; ex parte Bluck (1887) 56 LJ QB 607 discussed British Gold Fields of West Africa, In re [1899] 2 Ch 7 discussed Community Development Pty Ltd v Engwirda Construction Company (1969) 120 CLR 455 applied Dodds. Ex parte Vaughan's Executors, In re (1890) 25 QBD 529 cited Federal Commissioner of Taxation v Gosstray [1986] VR 876 applied Glenister v Rowe [2000] Ch 76 applied McCluskey v Pasminco Ltd (Administrators Appointed) (2002) 120 FCR 326 not followed National Bank of Australasia Ltd, The v Mason (1975) 133 CLR 191 applied Northern Counties of England Fire Insurance Company. MacFarlane's Claim, In re (1880) 17 Ch D 337 cited Oriel Homes Pty Ltd, Re [1998] 1 QdR 652 cited Peacock, Ex parte. In Re Duffield (1873) 8 Ch App 682 discussed Pitchford, In re [1924] 2 Ch 260 discussed Harding, Ex parte; Re Pickering (1854) 5 DG&M 367 applied Ruffle, Ex parte. In re Dummelow (1873) 8 Ch App 997 discussed Trent and Humber Company. Ex parte Cambrian & Steam Packet Company, In re (1868) 6 Eq 396 cited Sutherland (decd), In re [1963] AC 235 cited Trepca Mines Ltd, In re [1960] 1 WLR 1273 cited Vint v Hudspith (1885) 30 Ch D 24 discussed

ANDREW JAMES MCLELLAN AND CRAIG DAVID CROSBIE (IN THEIR CAPACITY AS JOINT AND SEVERAL ADMINISTRATORS OF ACN 008 082 157 PTY LTD) AND ACN 008 082 157 PTY LTD (FORMERLY TERRAIN SECURITIES PTY LTD) (ADMINISTRATORS APPOINTED) v AUSTRALIAN STOCK EXCHANGE LIMITED VID 1613 of 2004 FINKELSTEIN J MELBOURNE 12 MAY 2005