Spectrum Rare Earths Limited, in the matter of Spectrum Rare Earths Limited [2017] FCA 883

FEDERAL COURT OF AUSTRALIA

Spectrum Rare Earths Limited, in the matter of Spectrum Rare Earths Limited [2017] FCA 883 File number: WAD 281 of 2017

Judge: BARKER J

Date of judgment: 28 July 2017

Catchwords: CORPORATIONS – application for orders validating trading of shares pursuant to s 1322(4)(a) of Corporations Act 2001 (Cth) – where company not qualified to issue cleansing notices – application for orders relieving sellers from civil liability pursuant to s 1322(4)(c) – where plaintiff breached disclosure requirements under s 707(3) and s 727(1)

Legislation: Corporations Act 2001 (Cth) ss 706, 707(1), 707(3), 708(11), 708A, 708A(5), 708A(5)(b), 708A(7), 727(1), 1322, 1322(4), 1322(4)(a), 1322(4)(c), 1322(6)(a)(i), 1322(6)(a)(ii), 1322(6)(a)(iii), 1322(6)(b), 1322(6)(c), 1337B(1), Chapter 6D Federal Court of Australia Act 1976 (Cth) s 19

Cases cited: Re Golden Gate Petroleum Ltd (2010) 77 ACSR 17; [2010] FCA 40 Sprint Energy Limited, in the matter of Sprint Energy Limited [2012] FCA 1354 TV2U International Limited, in the matter of TV2U International Limited [2016] FCA 1556

Date of hearing: 28 July 2017

Registry: Western Australia

Division: General Division

National Practice Area: Commercial and Corporations

Sub-area: Corporations and Corporate Insolvency

Category: Catchwords

Number of paragraphs: 61

Counsel for the Plaintiff: Mr T Owen

Solicitor for the Plaintiff: Steinepreis Paganin

ORDERS WAD 281 of 2017 IN THE MATTER OF SPECTRUM RARE EARTHS LIMITED ACN 115 770 226 SPECTRUM RARE EARTHS LIMITED ACN 115 770 226 Plaintiff