Federal Court of Australia
FEDERAL COURT OF AUSTRALIA
Australian Securities and Investments Commission v ActiveSuper Pty Ltd (No 1) [2012] FCA 1519 Citation: Australian Securities and Investments Commission v ActiveSuper Pty Ltd (No 1) [2012] FCA 1519
Parties: AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION v ACTIVESUPER PTY LTD (ACN 125 423 574), ACN 143 832 053 PTY LTD (ACN 143 832 053), JASON GRANT BURROWS and JUSTIN LUKE GIBSON
File number: VID 426 of 2012
Judge: DODDS-STREETON J
Date of judgment: 14 November 2012
Catchwords: CORPORATIONS – winding up – jurisdiction of court – companies not incorporated in jurisdiction –companies registered in Arizona, United States of America – controller of foreign companies, based in Australia, also controlled Australian company – controller arranged the debiting and transmission of funds from Australian investors to purchase real estate in USA, and foreign companies entered loan agreement with Australian borrower – whether foreign companies carried on business in Australia CORPORATIONS – whether provisional liquidators should be appointed - Australian controller of foreign companies complying with asset preservation order – Australian controller replaced by overseas parties not subject to asset preservation - attempt to sell assets of foreign companies
Legislation: Australian Securities and Investments Commission Act 2001 (Cth), s 12DA Corporations Act 2001 (Cth), ss 9, 21, 583, 726, 727, 911A, 911B, 992A, 1101B, 1041H, 1323, 1324 Federal Court Rules 2011 (Cth), r 10.43
Cases cited: Actiesselskabet Dampskib "Hercules" v Grand Trunk Pacific Railway Co [1912] 1 KB 222 cited ASIC v Cycclone Magnetic Engines Inc (2009) 224 FLR 50 considered ASIC v Edwards [2004] QSC 344 considered ASIC v Risqy Ltd [2008] QSC 107 cited Bray v F Hoffman-La Roche Ltd (2002) 118 FCR 1 cited City Finance Co Ltd v Matthew Harvey & Co Ltd (1915) 21 CLR 55 cited Davidson v Global Investments International Ltd (1995) 19 ACSR 89 considered Eltran Pty Ltd v Starport Futures Trading Corporation [2009] QSC 94 considered Gebo Investments (Labuan) Ltd v Signatory Investments Pty Ltd [2005] NSWSC 544 considered Hope v Council of the City of Bathurst (1980) 144 CLR 1 considered Loch v John Blackwood Ltd [1924] AC 783 considered Luckins v Highway Motel (Carnarvon) Pty Ltd (1975) 133 CLR 164 cited On Call Interpreters & Translators Agency Pty Ltd v Commissioner of Taxation (No 3) [2011] FCA 366 cited Town Investments Ltd v Department of the Environment [1978] AC 359 cited Tycoon Holdings Ltd v Trencor Jetco Inc (1992) 34 FCR 31 considered
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