Federal Court of Australia
FEDERAL COURT OF AUSTRALIA
Australian Securities & Investments Commission v Stone Assets Management Pty Ltd (No 3) [2014] FCA 1426 Citation: Australian Securities & Investments Commission v Stone Assets Management Pty Ltd (No 3) [2014] FCA 1426
Parties: AUSTRALIAN SECURITIES & INVESTMENTS COMMISSION v STONE ASSETS MANAGEMENT PTY LTD ACN 141 699 854
File number: SAD 277 of 2011
Judge: BESANKO J
Date of judgment: 23 December 2014
Catchwords: CORPORATIONS – winding up – application by liquidator for directions – where sole director and shareholder, and only persons making claim against funds in liquidation, resident in People's Republic of China – where liquidator has access to limited books and records – whether liquidator justified in not taking steps to advertise for creditors in People's Republic of China – whether liquidator justified in proceeding on the basis that she has taken all reasonable steps to obtain, and has obtained, all books and records reasonably available – Corporations Act 2001 (Cth) s 479(3). Held: Application allowed.
Legislation: Corporations Act 2001 (Cth) ss 461, 479, 533D Corporations Regulations 2001 (Cth) reg 5.6.48
Cases cited: Australian Securities and Investments Commission v Stone Assets Management Pty Ltd [2012] FCA 630; (2012) 205 FCR 120 Australian Securities & Investments Commission v Stone Assets Management Pty Ltd (No 2) [2014] FCA 1099 Re Ansett Australia Ltd (No 3) [2002] FCA 90; (2002) 115 FCR 409 Re G B Nathan and Co Pty Ltd (In liq) (1991) 24 NSWLR 674 Sanderson v Classic Car Insurances Pty Ltd (1985) 10 ACLR 115
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