Federal Court of Australia
FEDERAL COURT OF AUSTRALIA
TV2U International Limited, in the matter of TV2U International Limited [2016] FCA 1556 File number(s): WAD 533 of 2016
Judge(s): SIOPIS J
Date of judgment: 20 December 2016
Date of orders: 14 December 2016
Catchwords: CORPORATIONS – issue of shares by a company without a prospectus – attempt by the company to issue a cleansing notice under s 708A(5) of the Corporations Act 2001 (Cth) – the company not qualified to issue such a notice – sellers of the shares contravened s 707(3) and s 727(1) of the Corporations Act – relief sought under s 1322(4) of the Corporations Act for orders validating share trades and relieving the sellers of civil liability.
Legislation: Corporations Act 2001 (Cth) ss 707(3), 708, 708A, 708A(5), 708(5)(a), 708A(5)(b), 708A(6), 708A(7), 708A(11), 727(1), 1322(4), 1322(4)(a), 1322(4)(c), 1322(6), 1322(6)(a), 1322(6)(a)(i), 1322(6)(a)(ii), 1322(6)(a)(iii), 1322(6)(c)
Cases cited: Weinstock v Beck (2013) 251 CLR 396
Date of hearing: 14 December 2016
Registry: Western Australia
Division: General Division
National Practice Area: Commercial and Corporations
Sub-area: Corporations and Corporate Insolvency
Category: Catchwords
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