Federal Court of Australia
Federal Court of Australia
Westpac Banking Corporation v Forum Finance Pty Limited [2021] FCA 807 File number: NSD 616 of 2021
Judgment of: LEE J
Date of judgment: 9 July 2021
Catchwords: CORPORATIONS – appointment of liquidator – allegations of an elaborate fraud by company in excess of $250 million – evidence led by Westpac unchallenged by company – purported mastermind Mr Papas located somewhere in Europe – Delphic details of his whereabouts and questionable whether he will return – application for appointment of liquidator ultimately consented to by company – just and equitable that company be wound up – consideration of appropriate liquidators
Legislation: Corporations Act 2001 (Cth) s 461 Evidence Act 1995 (Cth) s 129A
Cases cited: Ashby v Slipper [2014] FCAFC 15; (2014) 219 FCR 322 Australian Securities and Investments Commission v Austimber Pty Ltd [1999] FCA 566; (1999) 17 ACLC 893 Ex parte Spackman (1849) 1 Mac & G 170; (1849) 41 ER 1228 Hillig v Darkinjung Local Aboriginal Land Council [2006] NSWSC 1371; (2006) 205 FLR 450 Precision Plastics Pty Ltd v Demir (1975) 132 CLR 362 Re Producer's Real Estate v Finance Co Ltd [1936] VLR 235 Re Westbourne Galleries Ltd [1973] AC 360
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