Jones, Saker, Weaver and Stewart (Liquidators), in the matter of Great Southern Limited (in liq) (Receivers and Managers Appointed) [2012] FCA 1072

FEDERAL COURT OF AUSTRALIA

Jones, Saker, Weaver and Stewart (Liquidators), in the matter of Great Southern Limited (in liq) (Receivers and Managers Appointed) [2012] FCA 1072 Citation: Jones, Saker, Weaver and Stewart (Liquidators), in the matter of Great Southern Limited (in liq) (Receivers and Managers Appointed) [2012] FCA 1072

Parties: MARTIN BRUCE JONES, ANDREW JOHN SAKER, DARREN GORDON WEAVER AND JAMES HENRY STEWART IN THEIR CAPACITIES AS JOINT AND SEVERAL LIQUIDATORS OF GREAT SOUTHERN LIMITED (IN LIQUIDATION) (RECEIVERS AND MANAGERS APPOINTED) (ACN 052 046 536), GREAT SOUTHERN FINANCE PTY LTD (IN LIQUIDATION) (ACN 009 235 143) AND GREAT SOUTHERN MANAGERS AUSTRALIA LIMITED (IN LIQUIDATION) (RECEIVERS AND MANAGERS APPOINTED) (ACN 083 825 405)

File number: WAD 242 of 2012

Judge: GILMOUR J

Date of judgment: 27 September 2012

Catchwords: CORPORATIONS - Ex parte - application to Court under s 477(2B) of the Corporations Act 2001 (Cth) for the Liquidators to enter into funding arrangements – whether the liquidators have acted in good faith and for proper purposes – factors relevant to the exercise of the Court's discretion CORPORATIONS - confidentiality orders sought under s 50(1) of the Federal Court of Australia Act (1976) (Cth) – whether the orders sought are the minimum necessary to prevent prejudice to the administration of justice

Legislation: Corporations Act 2001 (Cth) s 477(2B) Federal Court of Australia Act (1976) (Cth), ss 17(1), 50(1) Federal Court of Australia Amendment (Criminal Jurisdiction) Act 2009 (Cth)

Cases cited: Hogan v Australian Crime Commission [2010] 240 CLR 651 discussed McGrath v Re HIH Ltd [2005] NSWSC 731 applied Re ACN 076 673 875 Ltd (2002) 42 ACSR 296 cited Re Addstone Pty Ltd (in liq) (1998) 83 FCR 583 discussed Re Imobridge Pty Ltd (in liq) (No 2) [2000] 2 Qd R 280 cited Re JN Taylor Holdings Limited (In Liquidation) (2007) 62 ACSR 695 discussed Re Spedley Securities Ltd (in liq) (1992) 9 ACSR 83 cited Re The Bell Group Limited (In Liquidation) ACN 008 666 993 [2009] WASC 235 discussed Scott v Scott [1913] AC 417 applied