Joiner (Liquidator), in the matter of CuDeco Limited (Receivers and Managers Appointed) (in liq) [2020] FCA 1661

Federal Court of Australia

Joiner (Liquidator), in the matter of CuDeco Limited (Receivers and Managers Appointed) (in liq) [2020] FCA 1661 File number: WAD 173 of 2020

Judgment of: BANKS-SMITH J

Date of judgment: 17 November 2020

Catchwords: CORPORATIONS - application by liquidators for directions and declarations under s 90-15 of Schedule 2 to the Corporations Act 2001 (Cth) (Insolvency Practice Schedule (Corporations)) - company in liquidation - where receivers and managers appointed under general security agreement - where company operates open cut copper mine - environmental protection - where company exposed to risks and liabilities relating to environmental management under Environmental Protection Act 1994 (Qld) and Mineral Resources Act 1989 (Qld) - where environmental protection orders issued to company - where environmental legislation imposes liabilities on 'related persons' - where mining assets subject to control of receivers and managers - whether having regard to concurrent receivership the liquidators fall within definition of 'related person' - where environmental legislation imposes liabilities on 'executive officers' - whether liquidators fall within definition of 'executive officer' CORPORATIONS - application for orders under s 545 of the Corporations Act that liquidators not liable to incur any amounts under Environmental Protection Act 1994 (Qld) and Mineral Resources Act 1989 (Qld) - where property not disclaimed - whether it is appropriate to make direction under s 545 where expenses incurred unidentified and hypothetical - whether indemnity provides access to sufficient property

Legislation: Corporations Act 2001 (Cth) ss 477, 545, 568A, Schedule 2 (Insolvency Practice Schedule (Corporations)) ss 90-20, 90-15 Federal Court of Australia Act 1976 (Cth) s 21 Environmental Protection Act 1994 (Qld) ss 358, 360, 361, 363A 363AB, 363ABA, 363AC, 363AD, 363AG, 363AI, 363B, 363E, 363F, 363G, 363H, 363I, 363M, 363N, 426, 440, 493, 501, 502, 502A, 503, 548A, Parts 5, 5B, 5C, Schedule 4 Environmental Protection (Chain of Responsibility) Amendment Act 2016 (Qld) Mineral Resources Act 1989 (Qld) ss 402, 412A Environmental Protection Regulation 2019 (Qld) reg 187