Frege in his Capacity as Foreign Representative of Greensill Bank AG v Greensill Bank AG (No 2) [2021] FCA 510

Federal Court of Australia

Frege in his Capacity as Foreign Representative of Greensill Bank AG v Greensill Bank AG (No 2) [2021] FCA 510 File number: VID 157 of 2021

Judgment of: ANASTASSIOU J

Date of judgment: 6 May 2021

Date of publication of reasons: 13 May 2021

Catchwords: BANKRUPTCY AND INSOLVENCY – cross-border insolvency – German insolvency proceeding – application for recognition as a foreign proceeding and foreign main proceeding pursuant to the UNCITRAL Model Law on Cross-Border Insolvency, Schedule 1 to the Cross-Border Insolvency Act 2008 (Cth) – whether to stay actions or proceedings concerning the debtor's assets, rights, obligations and liabilities – whether to entrust insolvency administrator with power to administer, realise and distribute debtor's assets in Australia – whether to permit insolvency administrator to examine witnesses, take evidence and require delivery up of information regarding the debtor as if acting as a liquidator appointed under Part 5.4B of the Corporations Act 2001 (Cth) – relief granted

Legislation: Corporations Act 2001 (Cth), Pt 5.4 of Chapter 5 Cross-Border Insolvency Act 2008 (Cth), ss 6, 10, 13, 16, Schedule 1 – United Nations Commission on International Trade Law Model Law on Cross-Border Insolvency (Arts 2, 15, 17, 20, 21) Federal Court (Corporations) Rules 2010 (Cth), r 15.A