Wood v Astra Resources Ltd (UK Company No 07620218) [2016] FCA 1192

FEDERAL COURT OF AUSTRALIA

Wood v Astra Resources Ltd (UK Company No 07620218) [2016] FCA 1192 File number: SAD 207 of 2016

Judge: WHITE J

Date of judgment: 7 October 2016

Catchwords: BANKRUPTCY AND INSOLVENCY – application for recognition of proceedings for winding up of the defendant in the High Court of Justice of England and Wales under the Model Law on Cross-Border Insolvency of the United Nations Commission on International Trade Law given force by s 6 of the Cross-Border Insolvency Act 2008 (Cth) – presumption as to the defendant's centre of main interests (COMI) not displaced in circumstances where its COMI was difficult to ascertain due to an absence of evidence as to its actual business and activities – orders made as to recognition and conferring upon the liquidator's powers to administer, realise and distribute the assets of the defendant in Australia.

Legislation: Corporations Act 2001 (Cth) s 583(c) Cross-Border Insolvency Act 2008 (Cth) ss 6, 8, 10(b)(i) Federal Court (Corporations) Rules 2010 (Cth) r 15A.3 Insolvency Act 1986 (UK) s 117

Cases cited: Ackers v Saad Investments Company Limited (in official liquidation) [2010] FCA 1221; (2010) 190 FCR 285 Australian Securities and Investments Commission v Astra Resources Plc [2015] FCA 759 Australian Securities and Investments Commission v Astra Resources (No 2) [2016] FCA 560 Kapila, in the matter of Edelsten [2014] FCA 1112; (2014) 320 ALR 506 Legend International Holdings Inc (as debtor in possession of the assets of Legend International Holdings Inc) v Legend International Holdings Inc [2016] VSC 308 Moore, as Debtor-in-Possession of Australian Equity Investors v Australian Equity Investors [2012] FCA 1002 Re Eurofood IFSC Ltd (2006) Ch 508 Young Jr, in the matter of Buccaneer Energy Ltd v Buccaneer Energy Ltd [2014] FCA 711