Federal Court of Australia
FEDERAL COURT OF AUSTRALIA
Murray River Organics Limited, in the matter of Murray River Organics Limited [2019] FCA 931 File number(s): VID 418 of 2019
Judge(s): ANDERSON J
Date of judgment: 13 June 2019
Date of publication of reasons: 17 June 2019
Catchwords: CORPORATIONS – application under s 1322(4)(c) of Corporations Act 2001 (Cth) (Act) for relief of company and its current and former directors and officers from civil liability in respect of failure of company to lodge certain forms and comply with financial reporting obligations – where failure to lodge opt-in notice for relief under ASIC Corporations (Wholly-owned Companies) Instrument 2016/785 – whether persons concerned acted honestly – application under s 1322(4)(d) of Act for extension of time for company to lodge opt-in notice – whether substantial injustice has been or is likely to be caused to any person by statutory non-compliance or proposed orders Held: Application granted – failure to lodge opt-in notice resulted from inadvertence – company and its current former directors and officers are relevantly relieved from any civil liability – extension of time granted for company to lodge opt-in notice
Legislation: Corporations Act 2001 (Cth) Pts 2M.3, 9.5 ss 292, 292(1)(b), 301(1), 314, 314(1), 315, 316(1), 316(2), 319(1), 341(1), 1274(11), 1322, 1322(4), 1322(4)(c), 1322(4)(d), 1322(5), 1322(6), 1322(6)(b), 1322(6)(c) ASIC Corporations (Wholly-owned Companies) Instrument 2016/785 (Cth) ss 5, 6(1)(f)
Cases cited: Australian Securities and Investments Commission v Lewski (2018) 362 ALR 286; 132 ACSR 403 Blaze Asset Pty Ltd v Target Energy Ltd (2009) 177 FCR 488 Caeneus Minerals Ltd, in the matter of Caeneus Minerals Ltd [2018] FCA 560 Clancy Exploration Limited, in the matter of Clancy Exploration Limited [2018] FCA 569 David Grant & Co Pty Ltd v Westpac Banking Corporation (1995) 184 CLR 265 Elderslie Finance Corp Ltd v Australian Securities Commission (1993) 11 ACSR 157 Gangemi v Osborne [2009] VSCA 297 In the matter of Order of AHEPA NSW Incorporated [2018] NSWSC 458 Kimberley College Ltd v Davis, in the matter of Kimberley College Ltd [2018] FCA 1102 Lock, in the matter of Cedenco JV Australia Pty Ltd (in liq) (No 2) [2019] FCA 93 Re Compaction Systems Pty Ltd & The Companies Act [1976] 2 NSWLR 477 Re Golden Gate Petroleum Ltd (ABN 090 074 785) (2010) 77 ACSR 17 Re G8 Communications Ltd (ACN 009 076 233) (2016) 112 ACSR 22 Re iCandy Interactive Ltd (2018) 125 ACSR 369 Re Jaxsta Ltd; Ex parte Jaxsta Ltd [2018] WASC 390 Re Phylogica Ltd (2004) 52 ACSR 159 Re Solco Ltd (ACN 084 656 691) (2015) 106 ACSR 591 Re Wave Capital Ltd (ACN 006 031 161) (2003) 47 ACSR 418 Re Wesfarmers Ltd; Ex parte Wesfarmers Ltd (No 2) [2018] WASC 357 Sprint Energy Ltd, in the matter of Sprint Energy Ltd [2012] FCA 1354 Weinstock v Beck (2013) 251 CLR 396 5G Networks Limited, in the matter of 5G Networks Limited [2019] FCA 698
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