Federal Court of Australia
Federal Court of Australia
Australian Securities and Investments Commission v Marco (No 9) [2021] FCA 1306 File number: WAD 481 of 2018
Judgment of: MCKERRACHER J
Date of judgment: 26 October 2021
Catchwords: CORPORATIONS – application by external administrator for a remuneration determination under s 60-10(1)(c) of the Insolvency Practice Schedule, Sch 2 of the Corporations Act 2001 (Cth) – whether the administrators are entitled to remuneration from the company's assets – where the company holds all of its assets as trustee EQUITY – trustee's right of exoneration and indemnity from trust property – whether the indemnity extends to remuneration of a voluntary administrator – where all of the company's property was at all times controlled by court-appointed receivers – consideration of the nature of the trustee's proprietary interest in the trust property to the extent of the right of indemnity
Legislation: Corporations Act 2001 (Cth) ss 9, 438A, 438D, 439(c), 446A, 443D, 443D(b), 443F, 449E(rep); Sch 2, Pt 3, ss 60-5(1), 60-10(1)(c), 60-12
Cases cited: 13 Coromandel Place Pty Ltd v CL Custodians Pty Ltd (In Liq) [1999] FCA 144; (1999) 30 ACSR 377 Alphena Pty Ltd (In Liq) v PS Securities Pty Ltd [2013] NSWSC 447; (2013) 9 ASTLR 63 Australian Securities and Investments Commission v Marco (No 3) [2020] FCA 719 Australian Securities and Investments Commission v Marco (No 6) [2020] FCA 1781 Bastion v Gideon Investments Pty Ltd [2000] NSWSC 939; (2000) 35 ACSR 466 Baxter Global Investments Pty Ltd v Marco [2020] NSWSC 1293 Carter Holt Harvey Woodproducts Australia Pty Ltd v Commonwealth [2019] HCA 20; (2019) 268 CLR 524 Caterpillar Financial Australia Ltd v Ovens Nominees Pty Ltd [2011] FCA 677 Grimaldi v Chameleon Mining NL (No 2) [2012] FCAFC 6; (2012) 200 FCR 296 Imam Ali Islamic Centre v Imam Ali Islamic Centre Inc [2018] VSC 413 Jones v Matrix Partners Pty Ltd [2018] FCAFC 40; (2018) 260 FCR 310 Kelly, in the matter of Halifax Investment Services Pty Ltd (in liquidation) (No 6) [2019] FCA 2111 Markopoulus v Marco [2020] WASC 79 Muschinski v Dodds (1985) 160 CLR 583 Nolan v Nolan [2004] VSCA 109 Octavo Investments Pty Ltd v Knight [1979] HCA 61; (1979) 144 CLR 360 Paragon Finance plc v DB Thakerar & Co (a firm) [1999] 1 All ER 400 Re AAA Financial Intelligence Ltd (in liq) ACN 093 616 445 (in liq) [2014] NSWSC 1004 Re BBY Ltd (in liq) (No 3) [2018] NSWSC 1718 Re Dalewon Pty Ltd [2010] QSC 311; (2010) 79 ACSR 530 Re Fearndale Holdings Pty Ltd (in liq) (Recs & Mgrs Apptd) [2020] NSWSC 901 Re French Caledonia Travel Service Pty Ltd (in liq) [2003] NSWSC 1008; (2003) 59 NSWLR 361 Re GB Nathan & Co Pty Ltd (in liq) (1991) 24 NSWLR 674 Re Hiebert Estate [1934] 4 DLR 799 Re Mackie Group Pty Ltd (in liq) [2017] VSC 477; (2017) 122 ACSR 537 Re Substar Holdings Pty Ltd (in liq) [2020] FCA 1863 Re Suco Gold Pty Ltd (1983) 33 SASR 99 Re Sutherland [2004] NSWSC 798; (2004) 50 ACSR 297 Shiu Shing Sze Tu v Lowe [2014] NSWCA 462; (2014) NSWLR 317 Staatz v Berry (No 3) [2019] FCA 924; (2019) 138 ACSR 231 Tang v Wright (No 3) [2020] FCA 1122 Trio Capital Limited (Admin App) v ACT Superannuation Management Pty Ltd [2010] NSWSC 941
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