Australian Securities and Investments Commission v Bettles [2020] FCA 1568

Federal Court of Australia

Australian Securities and Investments Commission v Bettles [2020] FCA 1568 File number(s): QUD 693 of 2019

Judgment of: GREENWOOD ACJ

Date of judgment: 28 October 2020

Catchwords: CORPORATIONS – consideration of an application to set aside or strike out a Concise Statement and a Supplementary Concise Statement which asserts that the defendant is a person involved in a contravention of the Corporations Act 2001 (Cth) on the footing that the defendant aided and abetted the contravention – consideration of whether the Concise Statement and Supplementary Concise Statement adequately identifies conduct on the part of the controllers of a group of companies said to give rise to "illegal phoenix activity" – consideration of the content of the term "illegal phoenix activity" – consideration of whether conduct addressing the integers of the provisions said to have been infringed is properly identified – consideration of whether conduct said to constitute aiding and abetting the contravention on the part of the defendant is properly identified

Legislation: Corporations Act 2001 (Cth), ss 79, 180, 181, 182, 600K Insolvency Practice Schedule (Corporations), Schedule 2 to the Corporations Act 2001 (Cth), clauses 45-1, 90-10, 90-15

Cases cited: Cassimatis v Australian Securities and Investments Commission (2020) 376 ALR 261; 144 ACSR 107 Cassimatis v Australian Securities and Investments Commission [2020] HCASL 158

Division: General Division

Registry: Queensland

National Practice Area: Commercial and Corporations

Sub-area: Corporations and Corporate Insolvency