Federal Court of Australia
FEDERAL COURT OF AUSTRALIA
Kaizen Global Investments Limited, in the matter of Australia New Agribusiness & Chemical Group Limited (in liq) v Australia New Agribusiness & Chemical Group Limited (in liq) [2017] FCA 431 File number: VID 1124 of 2016
Judge: MOSHINSKY J
Date of judgment: 28 April 2017
Catchwords: CORPORATIONS – security interests – registration – application for order fixing a later time for registration – where mortgagee failed to register share mortgage on the Personal Property Securities Register within 20 business days – where mortgagee subsequently registered the share mortgage – where mortgagor went into administration and subsequently liquidation – principles applicable to exercise of discretion to fix a later time – significance of winding up of mortgagor company – whether order should be made fixing a later time
Legislation: Corporations Act 2001 (Cth), ss 51, 266, 588FM, 588FL Evidence Act 1995 (Cth), ss 64, 67, 68 Personal Property Securities Act 2009 (Cth), s 267 Personal Property Securities (Corporations and Other Amendments) Act 2010 (Cth)
Cases cited: Bevillesta Pty Ltd v Imagine UN Ltd (2009) 69 ACSR 574 Craig Mostyn & Co Pty Ltd v Old Valley Pty Ltd (in liq) (2004) 139 FCR 477 Hewlett Packard Australia Pty Ltd v GE Capital Finance Pty Ltd (2003) 135 FCR 206 In re Barrow Borough Transport Ltd [1990] Ch 227 In re Flinders Trading Co Pty Ltd (1978) 20 SASR 14 In the matter of Accolade Wines Australia Ltd [2016] NSWSC 1023 In the matter of Black Opal IP Pty Ltd ACN 151 765 356 (subject to Deed of Company Arrangement) [2013] NSWSC 1225 In the matter of Cardinia Nominees Pty Ltd [2013] NSWSC 32 In the matter of OneSteel Manufacturing Pty Ltd (administrators appointed) [2017] NSWSC 21 In the matter of Transurban CCT Pty Ltd and Transurban CCT Nominees Pty Ltd in its own capacity and as Trustee of the Transurban CCT Trust [2014] NSWSC 1909 National Australia Bank Ltd v Davis & Waddell (Vic) Pty Ltd (2003) 44 ACSR 296 Re Appleyard Capital Pty Ltd; 123 Sweden AB v Appleyard Capital Pty Ltd (2014) 101 ACSR 629 Re Application of Guardian Securities Ltd [1984] 1 NSWLR 95 Re Carpenter International Pty Ltd (2016) 307 FLR 37 Re Daisytek Australia Pty Ltd (admin apptd) (2003) 46 ACSR 424 Re Enviro Pallets (NSW) Pty Ltd [2013] QSC 220 Sanwa Australia Finance Ltd v Ground-Breakers Pty Ltd (in liq) [1991] 2 Qd R 456 Westpac Banking Corporation v Bell Group Ltd (in liq) (No 3) (2012) 44 WAR 1
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