Federal Court of Australia
FEDERAL COURT OF AUSTRALIA
Australian Securities and Investments Commission v MyWealth Protection Pty Ltd [2020] FCA 1034 File number: QUD 205 of 2020
Judge: DERRINGTON J
Date of judgment: 13 July 2020
Date of publication of reasons: 22 July 2020
Catchwords: CORPORATIONS – winding up on just and equitable ground – Corporations Act 2001 (Cth) s 461(1)(k) – where director found to have been operating an unregistered managed investments scheme – where director no longer resides in the jurisdiction and no longer manages the company – where the company has not carried on any genuine business activities for a substantial period of time – where the company's assets were dealt with in knowing contravention of freezing order – order made for the winding up of the company
Legislation: Corporations Act 2001 (Cth) s 461(1)(k)
Cases cited: Australian Securities and Investments Commission v ABC Fund Managers (2001) 39 ACSR 443 Australian Securities and Investments Commission v ActiveSuper Pty Ltd (No 2) (2013) 93 ACSR 189 Australian Securities and Investments Commission v AGM Markets Pty Ltd (2018) 129 ACSR 335 Australian Securities and Investments Commission v MyWealth Manager Financial Services Pty Ltd (No 3) [2020] FCA 1035 Australian Securities and Investments Commission v Planet Platinum Ltd [2015] VSC 682
Date of hearing: 13 July 2020
Registry: Queensland
Division: General Division
National Practice Area: Commercial and Corporations
Sub-area: Corporations and Corporate Insolvency
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