Federal Court of Australia
Federal Court of Australia
Australian Securities and Investments Commission v Dawson [2021] FCA 301 File number: VID 521 of 2020
Judgment of: ANASTASSIOU J
Date of judgment: 1 April 2021
Catchwords: CORPORATIONS – application for approval of Receivers and Managers' remuneration in connection with two receiverships pursuant to s 425 of the Corporations Act 2001 (Cth) or alternatively r 14.24 of the Federal Court Rules 2011 (Cth) – whether remuneration was fair and reasonable – whether costs were appropriately apportioned between two receiverships – application granted
Legislation: Corporations Act 2001(Cth), s 425 Federal Court Rules 2011(Cth), rr 9.1, 13.24
Cases cited: Australian Securities and Investments Commission v Linchpin Capital Group Ltd (No 3) [2020] FCA 44; 142 ACSR 193 In the matter of Say Enterprises Pty Ltd [2018] NSWSC 396
Division: General Division
Registry: Victoria
National Practice Area: Commercial and Corporations
Sub-area: Regulator and Consumer Protection
Number of paragraphs: 21
Date of hearing: 23 February 2021
Counsel for the Applicant: Mr B. W. Wacker
Solicitor for the Applicant: Johnson Winter & Slattery
ORDERS VID 521 of 2020
BETWEEN: AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION Applicant
AND: LARRY JOHN DAWSON First Respondent
PW KITT CO PTY LTD (ACN 635 767 047) Second Respondent
order made by: ANASTASSIOU J DATE OF ORDER: 23 February 2021
THE COURT ORDERS THAT:
1. Pursuant to section 425 of the Corporations Act 2001 (Cth), the applicants' remuneration as receivers and managers of the property of PW Kitt Co Pty Ltd (In Liquidation) (ACN 635 767 047) be fixed at the amount of $112,154.00 for the period 7 August 2020 to 5 November 2020. 2. Pursuant to section 425 of the Corporations Act 2001 (Cth), the applicants' remuneration as receivers and managers of the property of Larry John Dawson be fixed at the amount of $10,113.00 for the period 7 August 2020 to 5 November 2020. 3. An order that the costs of and incidental to this Interlocutory Process be paid out of the assets of the Second Defendant. Note: Entry of orders is dealt with in Rule 39.32 of the Federal Court Rules 2011.
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