Federal Court of Australia
FEDERAL COURT OF AUSTRALIA
Kelly, in the matter of Halifax Investment Services Pty Ltd (in liquidation) (No 8) [2020] FCA 533 File number: NSD 2191 of 2018
Judge: GLEESON J
Date of judgment: 23 April 2020
Catchwords: INSOLVENCY – application by liquidator for judicial advice under s 63(1) of the Trustee Act 1925 (NSW) or directions under s 90-15 of Div 90 of Sch 2 (Insolvency Practice Schedule (Corporations) to the Corporations Act 2001 (Cth) –whether liquidators are justified in refraining from realising investments until the determination of all substantive issues in the proceedings – not appropriate to give judicial advice under s 63(1) of Trustee Act 1925 (NSW) where competing claims to trust funds – whether appropriate to give direction– where issue on which direction sought a decision about the proper or reasonable administration of trust property the subject of competing claims which could give rise to the prospect of claims against the liquidators – application for direction granted
Legislation: Corporations Act 2001 (Cth) ss 479 and 511, Pt 7.8 Div 2, Sch 2, Insolvency Practice Schedule (Corporations) s 90-15 Federal Court Rules 2011 Pt 30 Trustee Act 1925 (NSW) s 63
Cases cited: Ample Source International Limited v Bonython Metals Group Pty Limited (in liquidation), in the matter of Bonython Metals Group Pty Limited (in liquidation) (No 8) [2018] FCA 1614 Carter Holt Harvey Woodproducts Australia Pty Ltd v Commonwealth [2019] HCA 20 City of Swan v Lehman Bros Australia Ltd [2009] FCA 784 In re MF Global Australia Ltd (in liquidation) [2012] NSWSC 994; (2012) 267 FLR 27 In the matter of Ian James Purchas as Liquidator of Astarra Asset Management Pty Ltd (in liquidation) [2011] NSWSC 91 In the matter of MF Global Australia Limited (in liquidation) [2012] NSWSC 1524 Kelly, in the matter of Halifax Investment Services Pty Ltd (in liquidation) (No 7) [2020] FCA 248 Kerr, in the matter of Octaviar Limited (in liquidation) [2019] FCA 1614; (2019) 139 ACSR 192 Macedonian Orthodox Community Church St Petka Inc v His Eminence Petar The Diocesan Bishop of The Macedonian Orthodox Diocese of Australia and New Zealand [2008] HCA 42; (2008) 237 CLR 66 Marley v Mutual Security Merchant Bank & Trust Co Ltd [1991] 3 All ER 198 Re Corporations Law; v Addstone Pty Ltd (in liquidation) & Ors [1997] FCA 1043; (1997) 25 ACSR 357 Re KSK Holdings (Australia) Pty Ltd (in liquidation) [2019] NSWSC 1463 Re One.Tel Ltd and Ors [2014] NSWSC 457; (2014) 99 ACSR 247 S & D International & Anor v MIG Property Services & Ors [2010] VSC 336; (2010) 79 ACSR 373
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