Refund Property Fees Pty Ltd v Prime Project Development (Cairns) Pty Ltd [2011] FCA 851

FEDERAL COURT OF AUSTRALIA

Refund Property Fees Pty Ltd v Prime Project Development (Cairns) Pty Ltd [2011] FCA 851 Citation: Refund Property Fees Pty Ltd v Prime Project Development (Cairns) Pty Ltd [2011] FCA 851

Parties: REFUND PROPERTY FEES PTY LTD ACN 145 709 360 v PRIME PROJECT DEVELOPMENT (CAIRNS) PTY LTD ACN 109 685 332, PROMOSEVEN PTY LTD ACN 102 606 324

File number: QUD 172 of 2011

Judge: LOGAN J

Date of judgment: 21 July 2011

Catchwords: PRACTICE AND PROCEDURE – interim receiver – whether to appoint an interim receiver of a secured loan under s 57 of the Federal Court of Australia Act 1976 (Cth) – where first respondent had purportedly assigned the loan to the applicant – where substantive proceeding claimed relief under the Trade Practices Act 1974 (Cth) and the Property Law Act 1974 (Qld) – where receiver would have powers to release security – where receiver would receive monies under loan and pay unsecured creditors instead of secured creditors – where security was effectively held separately – misunderstanding as to the nature of a receiver – necessary party not joined – receiver not appointed – applicant to file and serve statement of claim

Legislation: Federal Court of Australia Act (Cth) s 57 Federal Magistrates Act 1999 (Cth) s 114 Judiciary Act 1903 (Cth) s 79 Trade Practices Act 1974 (Cth) ss 52, 87 Australian Consumer Law ss 18, 237 Property Law Act 1974 (Qld) ss 37, 38, 42

Textbook: Frisby S and Davis-White M, Kerr and Hunter on Receivers and Administrators (19th ed, Sweet & Maxwell, 2010) p 190