Australian Securities and Investments Commission v Letten (No 13) [2011] FCA 1151

FEDERAL COURT OF AUSTRALIA

Australian Securities and Investments Commission v Letten (No 13) [2011] FCA 1151 Citation: Australian Securities and Investments Commission v Letten (No 13) [2011] FCA 1151

Parties: AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION v MARK RONALD LETTEN and others according to the attached schedule

File number: VID 95 of 2010

Judge: GORDON J

Date of judgment: 7 October 2011

Catchwords: CORPORATIONS – court appointed receiver – expenses incurred in receivership – expense of receivership – priority of payment – contract entered into before receiver appointed – whether payment accruing after appointment of receiver has priority

Legislation: Corporations Act 2001 (Cth) Federal Court of Australia Act 1976 (Cth) Insolvency Act 1986 (UK) Insolvency Rules 1986 (UK)

Cases cited: A Boynton Ltd; Hoffman v A Boyton Ltd, Re [1910] 1 Ch 519 AGL Victoria Pty Ltd v Lockwood (2003) 10 VR 596 Associated Newspapers Ltd v Grinston (1949) 66 WN (NSW) 211 Atlantic Computer Systems plc, In re [1992] Ch 505 Australian Securities and Investments Commission v GDK Financial Solutions Pty Ltd (in liq) (No 3) (2008) 246 ALR 580 Australian Securities and Investments Commission v Letten [2010] FCA 140 Australian Securities and Investments Commission v Letten (No 7) (2010) 80 ACSR 401 Batten, Proffitt & Scott v Dartmouth Harbour Cmrs (1890) 45 Ch D 612 Bloom v Pensions Regulator [2011] Bus LR 766 British Investments and Development Company Pty Ltd, Re (1979) CLC 40-522 Burt, Boulton and Hayward v Bull [1895] 1 QB 276 Cater-King Pty Ltd v Westpac Banking Corp [1990] WAR 225 Diesels & Components Pty Ltd, Re [1985] 2 Qd R 456 Duffy v Super Centre Development Corporation Ltd [1967] 1 NSWR 382 Exeter City Council v Bairstow [2007] Bus LR 813 Exhall Coal Mining Co Ltd, In re (1864) 4 De GJ & S 377 Ford v Earl of Chesterfield (No 3) (1856) 52 ER 924 Goldacre (Offices) Limited v Nortel Networks UK Limited (in administration) [2010] Ch 455 Interstar Wholesale Finance Pty Ltd v Integral Home Loans Pty Ltd (2008) 257 ALR 292 Lundy Granite Co, Re (1870-71) LR 6 Ch App 462 McMahon's (Transport) Pty Ltd v Ebbage [1995] 1 Qd R 185 Moodemere Pty Ltd (in liquidation) v Waters [1988] VR 215 Nardell Coal Corp (in liq) v Hunter Valley Coal Processing Pty Ltd (2003) 178 FLR 400 O'Callaghan v Custom Credit Corporation Ltd (unreported, Supreme Court of Western Australia, 17 December 1997) O'Callaghan v Custom Credit Corporation Ltd [1999] WASCA 70 Philip Bernstein (Successors) Ltd v Lydiate Textiles Ltd [1962] CA Transcript 238 Powdrill v Watson; Talbot v Cadge; Talbot v Grundy [1995] 2 AC 394 Scottish Properties Ltd, Re (1977) 2 ACLR 264 Sheahan v Carrier Air Conditioning Pty Ltd & Campbell (1997) 189 CLR 407 Shirlaw v Taylor (1991) 31 FCR 222 Sipad Holdings ddpo v Popovic (1995) 19 ACSR 108 Sterling Industrial Facilities Ltd v Lydiate Textiles Ltd 106 SJ 669 Telecom v Russell Kumar & Sons (1992) 10 ACSR 24 Timbercorp Securities Ltd (in liq) v Plantation Land Ltd (2009) 72 ACSR 620 Titoki Farms Ltd v Lei Jay Catering Ltd (1987) 3 NZCLC 96-145 Toshoku Finance UK plc, In re [2002] 1 WLR 671 Universal Distributing Company Limited (in liquidation), In re (1933) 48 CLR 171 Whitton v ACN 003 266 886 Pty Ltd (1996) 42 NSWLR 123 Wily v Commonwealth of Australia (1996) 66 FCR 206 Wrexham, Mold & Connah's Quay Railway Company, In re [1900] 1 Ch 261 Wright v Kirby (1857) 53 ER 182