Australian Securities and Investments Commission v Marco (No 7) [2021] FCA 429

Federal Court of Australia

Australian Securities and Investments Commission v Marco (No 7) [2021] FCA 429 File number: WAD 481 of 2018

Judgment of: MCKERRACHER J

Date of judgment: 19 April 2021

Date of publication of reasons: 27 April 2021

Catchwords: CORPORATIONS – application by Court-appointed receivers for interim payment of remuneration pending determination by a registrar – where receivers are yet to be remunerated for work commenced more than 10 months ago – fixing of an appropriate percentage for interim payment – whether interim payment is subject to appropriate safeguards

Legislation: Corporations Act 2001 (Cth) ss 425(8), 601EE, Ch 5

Cases cited: ASC v Aust-Home Investments Ltd (1993) 44 FCR 194 Australian Securities & Investments Commission v Atlantic 3-Financial (Aust) Pty Ltd [2003] QSC 386 Australian Securities and Investments Commission v Carey (No 5) [2006] FCA 684; (2006) 58 ACSR 6 Australian Securities and Investments Commission v Letten (No 7) [2010] FCA 1231; (2010) 190 FCR 59 Australian Securities and Investments Commission v Letten (No 9) [2010] FCA 1459 Australian Securities and Investments Commission v Letten (No 19) [2012] FCA 375 Australian Securities and Investments Commission v Letten (No 21) [2013] FCA 744 Australian Securities and Investments Commission v Letten (No 27) [2020] FCA 891 Australian Securities and Investments Commission v Marco (No 3) [2020] FCA 719 Australian Securities and Investments Commission v Marco (No 6) [2020] FCA 1781 Re Banksia Securities Ltd (in liq) (receivers & managers appointed) [2017] NSWSC 540 Re Clynton Court Pty Ltd [2005] FCA 543; (2005) 53 ACSR 432 Re Idylic Solutions Pty Ltd [2016] NSWSC 1292; (2016) 11 BFRA 616