Federal Court of Australia
FEDERAL COURT OF AUSTRALIA
Australian Securities and Investments Commission v Merlin Diamonds Limited (No 3) [2020] FCA 411 File number(s): VID 505 of 2019
Judge(s): O'Bryan j
Date of judgment: 31 March 2020
Catchwords: CORPORATIONS – application for orders winding up the defendant in insolvency pursuant to s 459B of the Corporations Act 2001 (Cth) – alternatively pursuant to s 461(1)(k) of the Corporations Act 2001 (Cth) – where company is insolvent – where Court is of the opinion that it is just and equitable that the company be wound up – whether compelling reasons shown not to order winding up – where interested parties wish to appoint an administrator under s 436C of the Corporations Act 2001 (Cth) instead of winding up in order to provide an opportunity for a deed of company arrangement to be proposed – winding up ordered
Legislation: Corporations Act 2001 (Cth), ss 95A, 201A, 204A, 208, 228, 286, 320, 436B, 436C, 437A, 459B, 461, 464, 472
Cases cited: Australian Securities and Investments Commission v Activesuper Pty Ltd (No 2) (2013) [2013] FCA 234 Australian Securities and Investments Commission v Merlin Diamonds Limited [2019] FCA 1546 Australian Securities and Investments Commission v Plymin (No 1) [2003] VSC 123 Australian Securities and Investments Commission v Radisson Maine Property Group (Aust) Pty Ltd [2004] NSWSC 949 Crema Pty Ltd v Land Mark Property Development Pty Ltd [2006] VSC 338 Deputy Commissioner of Taxation, in the matter of W.D. Hall Pty Ltd v W.D. Hall Pty Ltd [2017] FCA 767 Frisken, in the matter of Avant Garde Investments Pty Ltd v Cheema [2020] FCA 98 Khoury v Rosemist Holdings Pty Ltd [1999] FCA 458 Network Exchange Pty Ltd v MIG International Communications Pty Ltd (1994) 13 ACSR 544 Powell v Fryer [2001] SASC 59 Queensland Phosphate v Korda (No 2) [2019] VSCA 215 Re Timbatec Pty Ltd [1974] 1 NSWLR 613 Rees v Bank of New South Wales (1964) 111 CLR 210 Switz Pty Ltd v Glowbind Pty Ltd [2000] NSWSC 222] TS Recoveries Pty Ltd v Sea-Slip Marinas (Aust) Pty Ltd [2007] NSWSC 1410 Workers Compensation Nominal Insurer v Denny Earthmoving & Bulk Haulage Pty Ltd [2008] NSWSC 1167
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