Matrix Group Ltd (in liq) (Trustee) v Oates, in the matter of Matrix Group Ltd (in liq) (Trustee) [2016] FCA 1487

FEDERAL COURT OF AUSTRALIA

Matrix Group Ltd (in liq) (Trustee) v Oates, in the matter of Matrix Group Ltd (in liq) (Trustee) [2016] FCA 1487 File number: NSD 1507 of 2016

Judge: GLEESON J

Date of judgment: 13 December 2016

Catchwords: CORPORATIONS – application and cross-claim seeking directions under s 479(3) of the Corporations Act 2001 (Cth) BANKRUPTCY AND INSOLVENCY – two litigation funding agreements – whether liquidator breached first funding agreement by entering into second funding agreement – whether payments under second funding agreement can be accommodated within terms of first funding agreement – dispute as to whether first funding agreement on foot – Court not asked to consider whether first funding agreement validly and effectively terminated

Legislation: Corporations Act 2011 (Cth) Federal Court of Australia Act 1976 (Cth) Legal Profession Act 2004 (NSW) Trustee Act 1925 (NSW) Federal Court Rules 2011

Cases cited: All Class Insurance Brokers Pty Ltd (in Liq) [2014] NSWSC 475; (2014) 32 ACLC 14-018 Alphena Pty Ltd (in liq) v PS Securities Pty Ltd atf Joseph Family Trust [2013] NSWSC 447; (2013) 94 ACSR 160 Australian Gas Light Company (ACN 052 167 405) v Australian Competition & Consumer Commission (No 2) [2003] FCA 1229 Bass v Permanent Trustee [1999] HCA 9; (1999) 198 CLR 334 Bastion v Gideon Investments (No 2) [2000] NSWSC 959; (2000) 35 ACSR 466 BBY Limited (Receivers and Managers appointed) (in liquidation) [2016] NSWSC 1366 Burdett-Baker, in the matter of AFS Group Limited (in liq) v National Australia Bank Ltd [2013] FCA 799 CGU Insurance Limited v Blakeley [2016] HCA 2; (2016) 90 ALJR 272 Edwards v Santos Ltd [2011] HCA 8; (2011) 242 CLR 421 Hawkins v Oates [2015] NSWSC 571 IMF (Australia) Ltd v Meadow Springs Fairway Resort Ltd (in Liquidation) [2009] FCAFC 9; (2009) 253 ALR 240 In Re Universal Distributing Company Limited (in liquidation) [1933] HCA 2; (1933) 48 CLR 171 In the matter of AAA Financial Intelligence Ltd (in liquidation) ACN 093 616 445 [2014] NSWSC 1004 In the matter of AAA Financial Intelligence Ltd (in liquidation) ACN 093 616 445 (No 2) [2014] NSWSC 1270 In the matter of PrimeSpace Property Investment Limited (in liquidation) [2016] NSWSC 1113 Kinsella v Gold Coast City Council [2014] QSC 65; [2015] 1 Qd R 274 Lewis v Doran [2008] NSWSC 186 Liberty Industrial Pty Ltd v Donald McArthy Trading Australia Pty Ltd [2013] NSWSC 443; (2013) 276 FLR 121 Lofthouse, in the matter of Riverside Nursing Care Pty Ltd (subject to deed of company arrangement) [2004] FCA 93; (2004) 22 ACLC 215 Ly v Jenkins [2001] FCA 1640 Meadow Springs Fairway Resort Ltd (In Liq) (ACN 084 358 592) v 23 Balanced Securities Ltd (ACN 083 514 685) [2007] FCA 1443; (2007) 25 ACLC 1,433 Mount Bruce Mining Pty Limited v Wright Prospecting Pty Limited [2015] HCA 37; (2015) 256 CLR 104 Parker (Liquidator) v SSL Management Pty Limited T/As Sunrise Supported Living (In Liq); In the Matter of SSL Management Pty Limited T/As Sunrise Supported Living (In Liq) [2016] FCA 1053 Pascoe v Matrix Group Ltd (in liq) [2011] FCA 1117 Re Ansett Australia Ltd (No 3) [2002] FCA 90; (2002) 115 FCR 409 Re Association for Visual Impairment The Homeless and The Destitute Inc. (in liquidation) [2013] VSC 673 Re Independent Contract Services (Aust) Pty Ltd (in liq) (No 2) [2016] NSWSC 106; (2016) 305 FLR 222 Re MF Global Ltd (in Liq) [2012] NSWSC 994; (2012) 267 FLR 27 Re Wakim; Ex parte McNally [1999] HCA 27; (1999) 198 CLR 511 Re Willmott Forests Ltd (Receivers and Managers Appointed) (In Liquidation) (No 2) [2012] VSC 125; (2012) 88 ACSR 18 Sutherland v Pascoe (No 2) [2012] FCA 1361; (2012) 297 ALR 328 Sutherland v Pascoe; in the matter of Matrix Group Limited as Trustee for the Matrix Group Unit Trust (in liq) ACN 061 549 371 [2013] FCAFC 15 Travel Compensation Fund v Classic International Cruises Pty Ltd (in liquidation) [2014] NSWSC 167