Federal Court of Australia
FEDERAL COURT OF AUSTRALIA
Valuestream Investment Management Ltd v Richmond Management Pty Ltd [2012] FCA 898 Citation: Valuestream Investment Management Ltd v Richmond Management Pty Ltd [2012] FCA 898
Parties: VALUESTREAM INVESTMENT MANAGEMENT LTD (ACN 094 107 034) IN ITS CAPACITY AS RESPONSIBLE ENTITY OF THE ADDWEALTH ACHIEVER FUND (ARSN 097 580 955) v RICHMOND MANAGEMENT PTY LTD (ACN 118 043 191) IN ITS CAPACITY AS TRUSTEE OF THE RICHMOND EQUITY FUND
File number: WAD 185 of 2012
Judge: MCKERRACHER J
Date of judgment: 22 August 2012
Catchwords: CORPORATIONS – urgent ex parte interlocutory application for the appointment of an interim receiver and manager – managed investment scheme – whether circumstances justified appointment of a receiver and manager – prima facie evidence that the trustee company no longer had director resident in Australia or registered office – prima facie evidence that the trustee company had made improper investments, failed to keep accounting records, appoint an auditor and report to unit holders
Legislation: Federal Court of Australia Act 1976 (Cth) s 57(1) Corporations Act 2001 (Cth) s 1323(1)(h)
Cases cited: Australian Securities Commission v AS Nominees Limited (1995) 62 FCR 504 Australian Securities and Investments Commission v Letten [2010] FCA 140 Australian Securities and Investments Commission v Marshall Bell Hawkins Ltd (2002) 43 ACSR 340 Beach Petroleum NL v Johnson (1992) 9 ACSR 404 Re Allco Securities Pty Ltd [2011] NSWSC 1113
Date of hearing: 17 August 2012
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