HFGC Nominees (No 2) Pty Ltd v Hancock as Liquidator of 246 Arabella Investments Pty Ltd (in Liquidation) [2010] FCA 1005

FEDERAL COURT OF AUSTRALIA

HFGC Nominees (No 2) Pty Ltd v Hancock as Liquidator of 246 Arabella Investments Pty Ltd (in Liquidation) [2010] FCA 1005 Citation: HFGC Nominees (No 2) Pty Ltd v Hancock as Liquidator of 246 Arabella Investments Pty Ltd (in Liquidation) [2010] FCA 1005

Parties: HFGC NOMINEES (NO 2) PTY LTD and CHRISTOPHER LYNDON HIGGINS v GEOFFREY TRENT HANCOCK AS LIQUIDATOR OF 246 ARABELLA INVESTMENTS PTY LTD (IN LIQUIDATION) and COMMISSIONER OF TAXATION

File number(s): NSD 296 of 2010

Judge: PERRAM J

Date of judgment: 14 September 2010

Catchwords: CORPORATIONS – Proceedings on behalf of – Contributory's rights and remedies – Statutory derivative suit – When leave should be granted – Whether leave can be granted nunc pro tunc

Legislation: Corporations Act 2001 (Cth) s 511 Federal Court of Australia Act 1976 (Cth) s 23 Income Tax Assessment Act 1936 (Cth) s 51 Income Tax Assessment Act 1997 (Cth) s 8-1 Taxation Administration Act 1953 (Cth)

Cases cited: Barnes v Fortytwo International Pty Ltd [2010] FCAFC 87 cited Bell Group Ltd v Westpac Banking Corporation (2000) 104 FCR 305 cited Commissioner for Revenue (ACT) v Slaven (2009) 178 FCR 334 followed Emanuele v Australian Securities Commission (1997) 188 CLR 114 cited Federal Commissioner of Taxation v BHP Billiton Finance Ltd (2010) 182 FCR 526 cited Federal Commissioner of Taxation v Total Holdings (Aust) Pty Ltd (1979) 9 ATR 885 cited Lidden v Composite Buyers Ltd (1996) 67 FCR 560 cited Ragless v IPA Holdings Pty Ltd (in liq) (2008) 65 ACSR 700 considered Ramage v Waclaw (1988) 12 NSWLR 84 cited