Australian Securities and Investments Commission v CME Capital Australia Pty Ltd, in the matter of CME Capital Australia Pty Ltd (No 2) [2016] FCA 544

FEDERAL COURT OF AUSTRALIA

Australian Securities and Investments Commission v CME Capital Australia Pty Ltd, in the matter of CME Capital Australia Pty Ltd (No 2) [2016] FCA 544 File number: VID 762 of 2015

Judge: MOSHINSKY J

Date of judgment: 16 May 2016

Catchwords: CORPORATIONS – application by Australian Securities and Investments Commission to wind up companies on just and equitable ground – considerations relevant to winding up companies – provisional liquidators expressed view that companies are insolvent – director accepts that companies are now insolvent – winding up order made

Legislation: Corporations Act 2001 (Cth), ss 601ED(5), 113, 459A, 461(1)(k), 462(2), 464, 727, 911A and 1041H

Cases cited: Australian Securities and Investments Commission v ABC Fund Managers (2001) 39 ACSR 443 Australian Securities and Investments Commission v ActiveSuper Pty Ltd (No 2) (2013) 93 ACSR 189 Australian Securities and Investments Commission v Bilkurra Investments Pty Ltd [2016] FCA 371 Australian Securities and Investments Commission v Chase Capital Management Pty Ltd (2001) 36 ACSR 778 Australian Securities and Investments Commission v CME Capital Australia Pty Ltd [2015] FCA 1489 Australian Securities and Investments Commission v Finchley Central Funds Management Ltd [2009] FCA 1110 Australian Securities and Investments Commission v International Unity Insurance Pty Ltd [2004] FCA 1059 Australian Securities and Investments Commission v Kingsley Brown Properties Pty Ltd [2005] VSC 506 Australian Securities and Investments Commission v Planet Platinum [2015] VSC 682 Australian Securities Commission v AS Nominees Limited (1995) 62 FCR 504 Galanopoulos v Moustafa [2010] VSC 380