Pascoe; in the matter of Matrix Group Ltd (in liq) [2011] FCA 1117

FEDERAL COURT OF AUSTRALIA

Pascoe; in the matter of Matrix Group Ltd (in liq) [2011] FCA 1117 Citation: Pascoe; in the matter of Matrix Group Ltd (in liq) [2011] FCA 1117

Parties: SCOTT PASCOE (IN HIS CAPACITY AS LIQUIDATOR OF MATRIX GROUP LTD (IN LIQ) ACN 061 549 371) AND MATRIX GROUP LIMITED (IN LIQ)

File number(s): NSD 1492 of 2011

Judge: JACOBSON J

Date of judgment: 6 September 2011

Catchwords: CORPORATIONS – Application by liquidator seeking approval of the court to enter into a funding agreement – proposed funder is creditor of company – declaration sought that such a funding agreement would be justified – unusual circumstances surrounding agreement

Legislation: Corporations Act 2001 (Cth), ss 477, 479, 596A and 596B Federal Court of Australia Act 1976 (Cth), s 50

Cases cited: ACN 076 673 875 Ltd (Receiver and Manager Appointed) (in liq); Re (2002) 42 ACSR 296 Ansett Australia Ltd (No 3); Re (2002) 115 FCR 409 Buiscex Ltd v Panfida Foods Ltd (in liq) (1998) 28 ACSR 357 Evans v Wainter Pty Ltd; Re (2005) 145 FCR 176 Fortress Credit Corporation (Australia) II Pty Ltd v Fletcher [2011] FCAFC 89 HIH Insurance Ltd; Re [2004] NSWSC 5 Imobridge Pty Ltd (in liq) (No 2); Re [2000] 2 Qd R 280 Leigh; Re AP and PJ King Pty Ltd (in liq) [2006] NSWSC 315 McGrath and Another (in their capacity as liquidators of HIH Insurance Limited and Others); Re (2010) 266 ALR 642 Oates v Hawkins [2010] NSWSC 491 Spedley Securities Ltd (in liq); Re (1992) 9 ACSR 83 Williams v Spautz (1992) 174 CLR 509 Ansett Australia Ltd (No 3); Re (2002) 115 FCR 409 HIH Insurance Ltd; Re [2004] NSWSC 5 Austin RP, Ramsay IM, Ford 's Principles of Corporations Law (14th ed, LexisNexis Butterworths, Sydney, 2009)