Owen, in the matter of RiverCity Motorway Pty Limited (Administrators Appointed) (Receivers and Managers Appointed) [2014] FCA 1008

FEDERAL COURT OF AUSTRALIA

Owen, in the matter of RiverCity Motorway Pty Limited (Administrators Appointed) (Receivers and Managers Appointed) [2014] FCA 1008 Citation: Owen, in the matter of RiverCity Motorway Pty Limited (Administrators Appointed) (Receivers and Managers Appointed) [2014] FCA 1008

Parties: RIVERCITY MOTORWAY PTY LIMITED (ADMINISTRATORS APPOINTED) (RECEIVERS AND MANAGERS APPOINTED) ACN 116 665 304 RIVERCITY MOTORWAY MANAGEMENT LIMITED (IN LIQUIDATION) ACN 117 343 361

File number(s): QUD 60 of 2011 QUD 481 of 2014

Judge(s): GREENWOOD J

Date of judgment: 18 September 2014

Catchwords: CORPORATIONS – Consideration of an application by administrators for orders under s 449E(2) of the Corporations Act 2001 (Cth) determining and fixing the applicants' remuneration for administering a particular entity and particular trusts – consideration of an application under s 449E(1)(c) determining and fixing the applicants' remuneration – consideration of the grounds for making a non-disclosure order under s 37AF of the Federal Court of Australia Act 1976 (Cth) concerning particular matters CORPORATIONS – Consideration of an application by liquidators of particular entities under s 511 of the Corporations Act 2001 (Cth) (the "Act") for a determination of whether the exercise of the applicants' powers and functions as liquidators is exercised properly by monitoring and taking particular steps in relation to a number of court proceedings called the "NSW Proceedings" – consideration of whether the question raised concerning the NSW Proceedings raised a legal issue of substance or procedure, or an issue of power, propriety or reasonableness enlivening s 511 of the Act CORPORATIONS – Consideration of whether the costs, expenses and remuneration incurred by the liquidators in taking the steps contemplated by Order 2(a) to (e) entitles the liquidators to exercise a right of indemnity out of the trust assets they are administering – consideration of s 601GA(1) and (2) of the Corporations Act 2001 (Cth) (the "Act") and Article 19.3 of the Constitution for each managed investment scheme for which the relevant entity in liquidation is a Responsible Entity under the Act – consideration of the authorities concerning a right of indemnity out of the trust assets and the grounds upon which an order is to be made allowing the liquidators direct recourse to the trust assets CORPORATIONS – Consideration of whether the liquidators of the Responsible Entity for two managed investment schemes under the Corporations Act 2001 (Cth) (the "Act") are "officers" of the Responsible Entity, in its capacity as a Responsible Entity under Chapter 5C of the Act – consideration of the duties owed by a liquidator to the general body of creditors – consideration of whether those duties are subordinated by s 601FD(1)(c) to the "interests of the members" of the managed investment scheme – consideration of whether the time for compliance by the Responsible Entity with reporting obligations under ss 292, 298, 302, 306, 314, 319 and 320 of the Act ought to be extended CORPORATIONS – Consideration of an application by liquidators for a determination under s 511 of the Corporations Act 2001 (Cth) (the "Act") that each Committee of Inspection was validly appointed – consideration of s 548 of the Act – consideration of the correctness of a decision of Jindal Transworld PVT Ltd v Scottsdale Homes No 10 Pty Ltd (No 2) [2010] SASC 210 – consideration of whether non-disclosure orders ought to be made under s 37AF of the Federal Court of Australia Act 1976 (Cth)