Wentworth Metals Group Pty Ltd v Leigh and Owen (as liquidators of Bonython Metals Group Pty Ltd): In the matter of Bonython Metals Group Pty Ltd (In liq) [2013] FCA 349

FEDERAL COURT OF AUSTRALIA

Wentworth Metals Group Pty Ltd v Leigh and Owen (as liquidators of Bonython Metals Group Pty Ltd): In the matter of Bonython Metals Group Pty Ltd (In liq) [2013] FCA 349 Citation: Wentworth Metals Group Pty Ltd v Leigh and Owen (as liquidators of Bonython Metals Group Pty Ltd): In the matter of Bonython Metals Group Pty Ltd (In liq) [2013] FCA 349

Parties: WENTWORTH METALS GROUP (ACN 095 117 981) and JOHN FREDERICK HILLAM AND SARABOL TEERANUKUL v DAVID LEIGH & MICHAEL OWEN (IN THEIR CAPACITY AS OFFICIAL LIQUIDATORS OF BONYTHON METALS GROUP PTY LTD (IN LIQ) ACN 141 257 294, BONYTHON METALS GROUP LTD (IN LIQ) ACN 141 257 294, CARPENTARIA EXPLORATION LTD ACN 095 117 981 and PURE METALS PTY LTD ACN 151 066 321

File number: NSD 363 of 2013

Judge: GRIFFITHS J

Date of judgment: 18 April 2013

Catchwords: CORPORATIONS – application under s 1321 of the Corporations Act 2001 (Cth) for review of liquidators' decision to sell the second defendant's interest in a joint venture to the third defendant – application for an interlocutory injunction to prevent sale – power of the Court to review a discretionary decision of a liquidator – whether a serious question to be tried –whether balance of convenience lies with the plaintiffs

Legislation: Corporations Act 2001 (Cth) ss 420A, 471B, 477, 1321, Pt 2F.1A Federal Court (Corporations) Rules 2000 r 14.1

Cases cited: Aliprandi v Griffith Vintners Pty Ltd (in liq) (1991) 6 ACSR 250 Ample Source International Limited v Bonython Metals Group Pty Limited: In the matter of Bonython Metals Group Pty Limited (No 6) [2011] FCA 1484; (2011) 285 ALR 488 Ample Source International Limited v Bonython Metals Group Pty Limited: In the matter of Bonython Metals Group Pty Limited (No 7) [2012] FCA 137 ASIC v Forrestview Nominees Pty Ltd (Receivers and Managers Appointed) [2006] FCA 1530 Australian Broadcasting Corporation v O'Neill (2006) 227 CLR 57 Bacnet Pty Ltd v Lift Capital Partners Pty Ltd (in liq) (2010) 183 FCR 384 Brightwell v RFB Holdings Pty Ltd (in liq) (2003) 44 ACSR 186 Chahwan v Euphoric Pty Ltd (2008) 65 ACSR 661 Donnelly v Amalgamated Television Services Pty Ltd (1998) 45 NSWLR 570 Hillam v Ample Source International Ltd (No 2) (2012) 202 FCR 336 Hausmann v Smith [2006] NSWSC 682 In the matter of St Gregory's Armenian School (in liq) [2012] NSWSC 1215 McGrath v Sturesteps; Sturesteps v HIH Overseas Holdings Ltd (in liq) (2011) 81 NSWLR 690 Ragless v IPA Holdings Pty Ltd (in liq) (2008) 65 ACSR 700 Re Equity Funds of Australia (in liq) (1976) 2 ACLR 238 Re Mineral Securities Australia Ltd (in liq) [1973] 2 NSWLR 207 Saward v J&A Saward Developments Pty Limited (Receivers Appointed) [2012] FCA 404