Burdett-Baker, in the matter of AFS Group Limited (in liq) v National Australia Bank Limited [2013] FCA 799

FEDERAL COURT OF AUSTRALIA

Burdett-Baker, in the matter of AFS Group Limited (in liq) v National Australia Bank Limited [2013] FCA 799 Citation: Burdett-Baker, in the matter of AFS Group Limited (in liq) v National Australia Bank Limited [2013] FCA 799

Parties: RACHEL ELIZABETH BURDETT-BAKER AND LUKE CHRISTOPHER TARGETT IN THEIR CAPACITY AS LIQUIDATORS OF AFS GROUP LIMITED (IN LIQUIDATION) (ACN 055 796 211) AND AUSTRALIAN FINANCIAL SERVICES LIMITED (IN LIQUIDATION) (ACN 116 900 362) v NATIONAL AUSTRALIA BANK LIMITED (ACN 004 044 937) and KENNETH WALTER BAILEY, REPRESENTING THE CLASS OF AUSTRALIAN FINANCIAL SERVICES LTD'S AUTHORISED REPRESENTATIVES AND FORMER AUTHORISED REPRESENTATIVES

File number: VID 384 of 2013

Judge: DODDS-STREETON J

Date of judgment: 9 August 2013

Catchwords: CORPORATIONS – application for directions by administrators under ss 447A and 447D of the Corporations Act 2001 (Cth) – and subsequently as liquidators under s 511 of the Corporations Act 2001 (Cth) – whether plaintiffs sought binding determination of third party rights – Court's power under ss 447A, 447D or 511 of the Corporations Act 2001 (Cth) to determine third party rights – whether proceeding inter partes and joinder of defendants required CORPORATIONS – application by liquidators for declaratory relief – whether certain moneys, including fees and commissions, in non-segregated bank account of company in liquidation held on trust for authorised representative financial advisers or constituted general assets available for distribution to creditors

Legislation: Corporations Act 2001 (Cth) ss 447A, 447D and 511