Federal Court of Australia
FEDERAL COURT OF AUSTRALIA
La Trobe Wholesale Finance Pty Ltd v Silkwax Pty Ltd trading as AcVal Turner Valuers (in liq) [2011] FCA 1102 Citation: La Trobe Wholesale Finance Pty Ltd v Silkwax Pty Ltd trading as AcVal Turner Valuers (in liq) [2011] FCA 1102
Parties: LA TROBE WHOLESALE FINANCE PTY LTD (ACN 115 893 939) v SILKWAX PTY LTD TRADING AS ACVAL TURNER VALUERS (ACN 115 084 896) (IN LIQUIDATION)
File number: VID 881 of 2011
Judge: DODDS-STREETON J
Date of judgment: 21 September 2011
Catchwords: CORPORATIONS – Application for leave nunc pro tunc to commence and proceed with proceeding against respondent in liquidation – Respondent allegedly made false, misleading and deceptive property valuation – Insurance policy arguably entitled respondent to indemnification in relation to claim – Principles applicable to grant of leave – Whether claim has solid foundation and gives rise to real and serious dispute – Whether continuation of proceeding would prejudice other creditors, diminish company assets or impede orderly winding up – Leave granted subject to condition
Legislation: Corporations Act 2001 (Cth) s 471B
Cases cited: Altinova Nominees Pty Ltd v Leveraged Capital Pty Ltd (Receivers and Managers Appointed) (in liq) (No 2) [2009] FCA 42 cited Ex parte Walker (1982) 6 ACLR 423 cited Goodman v Glenhurst Corporation Pty Ltd [2008] FCA 1482 cited Lawrence v Brighton Hall Securities Pty Ltd (in liq) [2009] FCA 1425 discussed Ogilvie-Grant v East (1983) 1 ACLC 742 cited Re Coastal Constructions Pty Ltd (in liq) (1994) 13 ACSR 329 discussed Re Sydney Formworks Pty Ltd (In liq) (1965) 82 WN (Pt 1) (NSW) 558 cited Vagrand Pty Ltd (in liq) v Fielding (1993) 41 FCR 550 cited
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