Federal Court of Australia
FEDERAL COURT OF AUSTRALIA
Marsden v Screenmasters Australia Pty Ltd, in the matter of Cardinal Group Pty Ltd (in liq) [2015] FCA 1256 Citation: Marsden v Screenmasters Australia Pty Ltd, in the matter of Cardinal Group Pty Ltd (in liq) [2015] FCA 1256
Parties: PETER WILLIAM MARSDEN AND RICHARD ANDREW STONE AS LIQUIDATORS OF CARDINAL GROUP PTY LTD (IN LIQUIDATION) (ACN 129 933 393) v SCREENMASTERS AUSTRALIA PTY LIMITED (ACN 067 372 481)
File number: NSD 1318 of 2014
Judge: MARKOVIC J
Date of judgment: 18 November 2015
Catchwords: CORPORATIONS – winding-up – liquidators – inquiry into performance of duties – complaint over such performance – scope of complaint – entry into litigation funding agreement – liquidators' decision to commence recovery proceedings – funded proceedings having little likelihood of recovering more than costs, expenses and funder's fees – circumstances where such action legitimate – Corporations Act 2001 (Cth) subs 536(1)(b), 536(3)
Legislation: Corporations Act 2001 (Cth) ss 477(2B), 536(1)(a), 536(1)(b), 536(3), 588FA(3), 588FE(2), 588FF, 588FG(2) Federal Court of Australia Act 1976 (Cth) s 51A
Cases cited: Hall v Poolman (2009) 75 NSWLR 99 Leslie v Hennessy [2000] FCA 1532
Date of hearing: 28 October 2015
Place: Sydney
Division: GENERAL DIVISION
Category: Catchwords
Number of paragraphs: 66
Counsel for the Plaintiffs: Mr J Kohn
Solicitor for the Plaintiffs: Stacks Law Firm
Counsel for the Defendant: Mr JE Thomson
Solicitor for the Defendant: McIntosh McPhillamy & Co
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