McCann, in the matter of Walton Construction (Qld) Pty Ltd (In Liq) v QHT Investments Pty Ltd [2018] FCA 1986

FEDERAL COURT OF AUSTRALIA

McCann, in the matter of Walton Construction (Qld) Pty Ltd (In Liq) v QHT Investments Pty Ltd [2018] FCA 1986 File number(s): QUD 674 of 2016

Judge(s): DERRINGTON J

Date of judgment: 13 December 2018

Catchwords: CORPORATIONS – winding up – voidable transactions – uncommercial transactions – purported agreements to "restructure" insolvent companies – agreements designed to benefit insolvency advisers – not reasonably commercial for insolvent company CORPORATIONS – winding up – voidable transactions – uncommercial transactions – identifying transaction "of" the company – relevant transaction linked to other transactions – whether artifice or construct to secure benefit for insolvency advisers

Legislation: Corporations Act 2001 (Cth) Personal Property Security Act 2009 (Cth)

Cases cited: Capital Finance Australia Ltd v Tolcher (2007) 164 FCR 83 Cussen v Sultan (2009) 74 ACSR 496 Jones v Dunkel (1959) 101 CLR 298 Kalls Enterprises Pty Ltd (in liq) v Baloglow (2007) 63 ACSR 557 Kazar (in his capacity as the liquidator of Frontier Architects Pty Ltd) (in liq) (ACN 099 631 982) v Kargarian (2010) 81 ACSR 158 Kinsela v Russell Kinsela Pty Ltd (in liq) (1986) 4 NSWLR 722 Mann v Sangria Pty Ltd (2001) 38 ASCR 307 Natarajan v ACIB Accumulus Pty Ltd (in liq) (2006) 56 ACSR 356 Re Employ (No 96) Pty Ltd (in liq) (2013) 93 ACSR 48 Re Kaizen Global Investments Ltd [2017] FCA 431 Sargent v ASL Developments Ltd (1974) 131 CLR 634 Tosich Construction Pty Ltd v Tosich (1997) 23 ACSR 466 VR Dye & Co v Peninsula Hotels Pty Ltd [1999] 3 VR 201 Yunghanns v Yunghanns [1999] VSC 254