Tucker v Mongbwalu Goldfields Investments Limited [2021] FCA 135

Federal Court of Australia

Tucker v Mongbwalu Goldfields Investments Limited [2021] FCA 135 File number: WAD 29 of 2021

Judgment of: MCKERRACHER J

Date of judgment: 24 February 2021

Catchwords: CORPORATIONS – external administration of company – moratorium on enforcement of security interests under s 440B of the Corporations Act 2001 (Cth) – where the relevant security interest is held by foreign companies over property located outside Australia – extra-territorial application of s 440B PRIVATE INTERNATIONAL LAW – whether the court has jurisdiction over foreign companies who hold security interests over property located outside Australia but owned by an Australian company – where the defendants did not appear and purported not to submit to the court's jurisdiction – whether the first defendant submitted to the court's jurisdiction by lodging a proof of debt in the administration of the Australian company – in circumstances where injunctive relief would be unenforceable – in circumstances where declaratory relief will likely have utility

Legislation: Corporations Act 2001 (Cth) ss 5(4), 440B Personal Property Securities Act 2009 (Cth) s 267

Cases cited: Akers v Deputy Commissioner of Taxation (2014) 223 FCR 8; [2014] FCAFC 57 New Cap Reinsurance Corporation Ltd v Grant [2009] NSWSC 662 Rubin v Eurofinance SA; In re New Cap Reinsurance Corpn Ltd (in liquidation) [2012] UKSC 46 Stemcor (A/sia) Pty Ltd v Oceanwave Line SA [2004] FCA 391 Tucker, in the matter of Vector Resources Limited [2021] FCA 112 Waller v Freehills (2009) 177 FCR 507; [2009] FCAFC 89