BCI Finances Pty Limited (in liq) v Binetter (No 5) [2017] FCA 1524

FEDERAL COURT OF AUSTRALIA

BCI Finances Pty Limited (in liq) v Binetter (No 5) [2017] FCA 1524 File number: SAD 5 of 2015

Judge: GLEESON J

Date of judgment: 15 December 2017

Catchwords: DAMAGES – whether pre-judgment interest payable pursuant to s 51A of the Federal Court of Australia Act 1976 (Cth) – whether proposed equitable compensation involves grant of interest on interest contrary to s 51A(3) of the Federal Court of Australia Act 1976 (Cth) – whether interest payable on liability for equitable compensation in respect of penalties payable to the Australian Taxation Office – determination of appropriate date for commencement of interest – how recovery from third party affects quantification of equitable compensation – accessorial liability of corporate respondents for breaches of fiduciary duties of directors of applicants COSTS – whether legal personal representative of estate liable for costs of defence personally – whether applicants entitled to set-off of costs awarded against legal personal representative in their capacity as representative against costs orders in favour of the representatives in their own capacity – representative personally liable – set-off allowed

Legislation: Corporations Act 2001 (Cth) Federal Court of Australia Act 1976 (Cth) Taxation Administration Act 1953 (Cth) Federal Court Rules 2011 Companies (New South Wales) Code 1981