Kelly (Liquidator), in the matter of Halifax Investment Services Pty Ltd (in liquidation) v Loo (No 2) [2022] FCA 1078

FEDERAL COURT OF AUSTRALIA

Kelly (Liquidator), in the matter of Halifax Investment Services Pty Ltd (in liquidation) v Loo (No 2) [2022] FCA 1078 File number: NSD 2191 of 2018

Judgment of: MARKOVIC J

Date of judgment: 25 August 2022

Date of publication of reasons: 14 September 2022

Catchwords: CORPORATIONS – application under s 477(2B) of the Corporations Act 2001 (Cth) for approval of entry into a funding agreement – whether it is a proper exercise of the liquidators' powers – application allowed – application for judicial advice and/or directions to the effect that liquidators would be justified in prosecuting a proceeding – whether it is proper for the liquidators to incur the costs and expenses, comprising their remuneration and expenses other than legal fees, in prosecuting the proposed proceeding – application granted – application for confidentiality orders pursuant to s 37AG(1)(a) of the Federal Court of Australia Act 1976 (Cth) – whether orders necessary to prevent prejudice to the proper administration of justice – application granted

Legislation: Corporations Act 2001 (Cth) s 477(2B) Federal Court of Australia Act 1976 (Cth) s 37AF, s 37AG(1)(a) Trustee Act 1925 (NSW) s 63

Cases cited: Goyal (liquidator) in the matter of OLI 1 Pty Ltd (in liq) [2020] FCA 450 Hughes, in the matters of Sales Express Pty Ltd (in Liq) [2016] FCA 423 Kelly (Liquidator), in the matter of Halifax Investment Services Pty Ltd (in liquidation) v Loo [2021] FCA 531 Kogan, in the matter of Rogulj Enterprises Pty Ltd (in liq) [2021] FCA 856 Macedonian Orthodox Community Church St Petka Inc v His Eminence Petar The Diocesan Bishop of Macedonian Orthodox Diocese of Australia and New Zealand (2008) 237 CLR 66 Motorola Solutions Inc v Hytera Communications Corporation Ltd (No 2) [2018] FCA 17