Federal Court of Australia
FEDERAL COURT OF AUSTRALIA
Zhongcheng Holdings Pty Ltd v Grand Orchid 21 Pty Ltd, in the matter of Grand Orchid 21 Pty Ltd [2020] FCA 35 File number: NSD 1691 of 2019
Judge: STEWART J
Date of judgment: 30 January 2020
Date of publication of reasons: 5 February 2020
Catchwords: CORPORATIONS – application for direction under s 424 of the Corporations Act 2001 (Cth) – whether Court should give direction that it is not unlawful for controller to enter into contract for sale solely by reason of relationship between purchaser and controller – mortgagee principle not contravened – direction made
Legislation: Corporations Act 2001 (Cth) ss 9, 420A, 424
Cases cited: Preston, in the matter of Sandalwood Properties Ltd [2018] FCA 547 Re Actwane Pty Limited [2002] NSWSC 527; 42 ACSR 307 Re Copperco Ltd; Ex Parte Doran [2009] WASC 170 Re One.Tel Networks Holdings Pty Ltd [2001] NSWSC 1065; 40 ACSR 83 White v Huxtable, in the matter of Lake Federation Pty Ltd (ACN 099 611 453) (receivers and managers appointed) [2006] FCA 559; 232 ALR 388
Date of hearing: 30 January 2020
Registry: New South Wales
Division: General Division
National Practice Area: Commercial and Corporations
Sub-area: Commercial Contracts, Banking, Finance and Insurance
Category: Catchwords
Number of paragraphs: 27
Counsel for the Plaintiffs: C D Freeman
Solicitor for the Plaintiffs: Goodwin & Co Lawyers
Counsel for the Defendants: The defendants did not appear
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