Australian Securities and Investment Commission v Franklin (liquidator), in the matter of Walton Construction Pty Ltd (in liq) [2014] FCA 68

FEDERAL COURT OF AUSTRALIA

Australian Securities and Investment Commission v Franklin (liquidator), in the matter of Walton Construction Pty Ltd (in liq) [2014] FCA 68 Citation: Australian Securities and Investment Commission v Franklin (liquidator), in the matter of Walton Construction Pty Ltd (in liq) [2014] FCA 68

Parties: AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION (ASIC) v GLENN FRANKLIN, STIRLING L HORNE, JASON G STONE, WALTON CONSTRUCTION PTY LTD (ACN 060 900 218) (IN LIQUIDATION) and WALTON CONSTRUCTION (QLD) PTY LTD (ACN 100 833 225) (IN LIQUIDATION)

File number(s): VID 1359 of 2013

Judge(s): DAVIES J

Date of judgment: 13 February 2014

Catchwords: CORPORATIONS – Insolvency – Winding up – Application to remove liquidator – Professional relationship between liquidator and the entity which referred the appointment – Where referring entity may be investigated by the liquidator – Whether apprehended bias – Application dismissed. CORPORATIONS – Insolvency – Voluntary administration – Requirement that administrators make a declaration of relevant relationships – Whether declaration deficient – Corporations Act 2001 (Cth), s 60 considered – Application for declaratory relief refused.

Legislation: Corporations Act 2001 (Cth), ss 60, 503, 436DA

Cases cited: Re Biposo Pty Ltd (1995) 17 ACSR 730 Domino Hire Pty Ltd v Pioneer Park Pty Ltd (in liq) [2003] NSWSC 496 Accord Pacific Holdings Pty Ltd v Gleeson [2011] NSWSC 1021 Bovis Lend Lease Pty Ltd v Wily (2003) 45 ACSR 612 Wood v Targett (1997) 23 ACSR 291 Re National Safety Council of Australia [1990] VR 29 Ebner v Official Trustee in Bankruptcy (2000) 205 CLR 337 Commissioner of Taxation v Consolidated Media Holdings Ltd (2012) 91 ACSR 359