Fletcher and Barnet, in the matter of Octaviar Limited (Receivers and Managers Appointed) (In Liq) and Octaviar Administration Pty Ltd (In Liq) [2011] FCA 132

FEDERAL COURT OF AUSTRALIA

Fletcher and Barnet, in the matter of Octaviar Limited (Receivers and Managers Appointed) (In Liq) and Octaviar Administration Pty Ltd (In Liq) [2011] FCA 132 Citation: Fletcher and Barnet, in the matter of Octaviar Limited (Receivers and Managers Appointed) (In Liq) and Octaviar Administration Pty Ltd (In Liq) [ 2011] FCA 132

Parties: WILLIAM JOHN FLETCHER AND KATHERINE ELIZABETH BARNET, OCTAVIAR LIMITED (ACN 107 863 436) (RECEIVERS AND MANAGERS APPOINTED)(IN LIQ) and OCTAVIAR ADMINISTRATION PTY LTD (ACN 101 069 390)(IN LIQ)

File number: NSD 149 of 2011

Judge: STONE J

Date of judgment: 23 February 2011

Catchwords: CORPORATIONS – Joint liquidators - application pursuant to s 477(2B) Corporations Act 2001 (Cth) for approval to enter into litigation funding agreement - both parties to proposed agreement in liquidation – factors relevant to approval – whether agreement in the interests of funding company – application under s 50 Federal Court of Australia Act 1976 (Cth) for confidentiality orders – orders must be necessary to prevent prejudice to administration of justice

Legislation: Corporations Act 2001 (Cth) s 477(2B), s 479(3) Federal Court of Australia Act 1976 (Cth) ss 17, 50(1)

Cases cited: HIH Insurance Ltd [2007] NSWSC 498 Hogan v Australian Crime Commission (2010) 240 CLR 651 Jarbin Pty Ltd v Clutha Ltd (in liq) (2004) 208 ALR 242 Leigh re King Bros [2006] NSWSC 315 Re Spedley Securities Limited (in liq) (1992) 9 ACSR 83 Re McGrath (2010) 266 ALR 642