Wight, in the matter of I-Prosperity Pty Ltd (in liq) v LZYH Investments Pty Limited [2022] FCA 209

Federal Court of Australia

Wight, in the matter of I-Prosperity Pty Ltd (in liq) v LZYH Investments Pty Limited [2022] FCA 209 File number: QUD 13 of 2022

Judgment of: DERRINGTON J

Date of judgment: 7 March 2022

Catchwords: INSOLVENCY – company liquidation – voidable transaction being both an uncommercial and an insolvent transaction – default judgment PRACTICE – default judgment – claim under s 588FF of the Corporations Act 2001 (Cth) – acceptance of facts in concise statement which were not challenged

Legislation: Corporations Act 2001 (Cth) Federal Court of Australia Act 1976 (Cth) Federal Court Rules 2011 (Cth)

Cases cited: Capital Finance Australia Ltd v Tolcher (2007) 164 FCR 83 Chamberlain Group, Inc v Giant Alarm System Co Ltd (No 2) [2019] FCA 1606 Cooper v Commissioner of Taxation (2004) 139 FCR 205 Dean-Willcocks Pty Ltd v Commissioner of Taxation (No 2) (2004) 49 ACSR 325 Dwyer v R-Jay Pty Ltd [2007] SASC 115 Greig v Deputy Commissioner of Taxation [2011] QSC 129

Division: General Division

Registry: Queensland

National Practice Area: Commercial and Corporations

Sub-area: Corporations and Corporate Insolvency

Number of paragraphs: 28

Date of hearing: 7 March 2022

Counsel for the Plaintiffs: Mr M Taylor

Solicitor for the Plaintiffs: Hickey Lawyers

Counsel for the Defendant: The Defendant did not appear

Table of Corrections

10 March 2022 In paragraph 4, "Ms Gu" has been replaced with "Ms Bo" in two instances.