Australian Securities & Investments Commission v Tax Returns Australia Dot Com Pty Ltd [2010] FCA 715

FEDERAL COURT OF AUSTRALIA

Australian Securities & Investments Commission v Tax Returns Australia Dot Com Pty Ltd [2010] FCA 715 Citation: Australian Securities & Investments Commission v Tax Returns Australia Dot Com Pty Ltd [2010] FCA 715

Parties: AUSTRALIAN SECURITIES & INVESTMENTS COMMISSION v TAX RETURNS AUSTRALIA DOT COM PTY LTD and ONLINE RETURNS PTY LTD

File number(s): VID 531 of 2010

Judge: DODDS-STREETON J

Date of judgment: 8 July 2010

Catchwords: CORPORATIONS – application by Australian Securities and Investments Commission to appoint provisional liquidator – considerations relevant to appointment of provisional liquidator, including: apparent or probable insolvency of companies, risk of dissipation of companies' assets, public interest in a prompt independent examination of companies' accounts, financial records and transactions.

Legislation: Corporations Act 2001 (Cth) ss 286(1), 459A, 459P, 461(1)(k), 462 and 472(2) Federal Court (Corporations) Rules 2000 (Cth) rule 1.10, 6.1(4) Federal Court Rules 1976 (Cth) O 4 r14(2)

Cases cited: Australian Securities and Investments Commission v ACN 102 556 098 Pty Ltd (2003) 48 ACSR 350 Australian Securities and Investments Commission v Solomon (1996) 19 ACSR 73 Australian Securities and Investments Commission v Weerappah (No 2) [2009] FCA 249 Re JN Taylor Holdigns Ltd Zempilas v JN Taylor Holdings Ltd (1990) 3 ACSR 600 Silkearl Pty Ltd v Ainsworth Game Technology Ltd [2006] FCA 949 Terni-Mesh Australia Pty Ltd v Josu Manufacturing Pty Ltd [1999] FCA 1241 Young v ICM Agriculture Pty Ltd (2009) 260 ALR 257 Austin & Ramsay, Ford's Principles of Corporations Law