Federal Court of Australia
FEDERAL COURT OF AUSTRALIA
Australian Securities and Investments Commission v Bilkurra Investments Pty Ltd [2016] FCA 371 File number: VID 924 of 2015
Judge: BEACH J
Date of judgment: 15 April 2016
Catchwords: CORPORATIONS – promotion of land banking schemes – involvement of corporate entities participating therein – ASIC investigation of transactions – need for investigation by liquidator – potential voidable transactions – potential contraventions of ss 180 to 184, 286, 601ED, 911A and 1041E to 1041H of the Corporations Act 2001 (Cth) – whether entities should be wound up – just and equitable ground – insolvency – ss 459A, 459P, 461(1)(k) and 464 of the Corporations Act 2001 (Cth) – whether winding up application should be adjourned – appointment of provisional liquidator as an alternative – winding up orders made
Legislation: Corporations Act 2001 (Cth) ss 9, 51C, 95A, 286, 459A, 459C, 459D, 459P, 461(1)(k), 462, 464, 588FE, 1305, Pt 5.7B
Cases cited: Australian Securities and Investments Commission v ActiveSuper Pty Ltd (No 2) (2013) 93 ACSR 189 Australian Securities and Investments Commission v Midland Hwy Pty Ltd (administrators appointed); in the matter of Midland Hwy Pty Ltd (administrators appointed) [2015] FCA 1360 In the Matter of Statewide Developments Pty Ltd [2011] NSWSC 1537 Noxequin Pty Ltd v Deputy Commissioner of Taxation [2007] NSWSC 87 Re National Computers Systems & Services Ltd (1991) 6 ACSR 133 Re Nuhan Ltd (1980) 5 ACLR 69
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