Oztech Pty Ltd v Public Trustee of Queensland (No 15) [2018] FCA 819

FEDERAL COURT OF AUSTRALIA

Oztech Pty Ltd v Public Trustee of Queensland (No 15) [2018] FCA 819 File number: NSD 937 of 2014

Judge: YATES J

Date of judgment: 4 June 2018

Catchwords: CORPORATIONS – representative proceeding under Pt IVA of the Federal Court of Australia Act 1976 (Cth) – collapse of corporate group – debentures (notes) issued – trustee for debenture holders (noteholders) – whether trustee breached his duty under s 283DA(a) of the Corporations Act 2001 (Cth) to exercise reasonable diligence – discussion of the content of the duty – whether trustee breached his duty in equity to exercise reasonable care – whether trustee breached a fiduciary duty to act bona fide in the interests of the applicant and group members, and engaged in unconscionable conduct, by resigning as trustee – whether case on causation of damage established EVIDENCE – tendency evidence – whether drawing inferences from proven facts as to the time when, in hypothetical circumstances, documents might or could have been created, infringes the tendency rule under s 97 of the Evidence Act 1995 (Cth)

Legislation: Corporations Act 2001 (Cth) ss 111AC, 111AI, 201, 283AD, 283BB, 283BE, 283BF, 283BI, 283CB, 283CC, 283DA, 283EA, 283EB, 283EC, 283F, 292, 299, 301, 302, 304, 307, 308, 309, 313, 318, 411, 436A, 588FE, 588FF, 674, Pts 2L.1, 2L.2, 2L.3, 2L.4, Ch 2L Federal Court of Australia Act 1976 (Cth) Pt IVA Evidence Act 1995 (NSW) ss 95, 97, 99 Limitation Act 1969 (NSW) s 55 Limitation of Actions Act 1974 (Qld) s 38 Public Trustee Act 1978 (Qld) Trusts Act 1973 (Qld) s 22 Trusts Act 1976 (Qld) s 76 Trustee Act 1925 (NSW) s 85