Federal Court of Australia
Federal Court of Australia Mableson v Tarbotton, in the matter of the bankrupt estate of Tarbotton [2022] FCA 1433 File number: SAD 120 of 2022
Judgment of: BANKS-SMITH J
Date of judgment: 14 November 2022
Date of publication of reasons: 6 December 2022
Catchwords: BANKRUPTCY AND INSOLVENCY - application by liquidator of company for leave to proceed pursuant to s 58(3)(b) of the Bankruptcy Act 1966 (Cth) against bankrupt and trustee of estate of discharged bankrupt in proposed Federal Court of Australia proceedings - proposed proceedings relate to claim of breach of s 588G of the Corporations Act 2001 (Cth) and compensation under s 588M of the Corporations Act - where bankrupt and discharged bankrupt were former directors of company - where alleged company traded whilst insolvent - where insurance policy may respond to claim if judgment entered against former directors - principles applicable to exercise of discretion to grant leave to proceed - leave granted
Legislation: Bankruptcy Act 1966 (Cth) ss 58, 82, 117, 153 Corporations Act 2001 (Cth) ss 471B, 588G, 588M
Cases cited: Allanson v Midland Credit Ltd (1977) 30 FLR 108 Bucovaz v OT Markets Pty Ltd [2021] FCA 351 Commonwealth Bank of Australia v Prentice (Trustee), in the matter of Shannon (Bankrupt) [2016] FCA 53 Commonwealth of Australia v Vero Insurance Limited [2012] FCA 826 Free v Ma [2020] FCA 226 Health Services Union v Jackson (No 3) [2015] FCA 694 Hillig, in the matter of Battaglia [2019] FCA 2191 In the matter of Galtari Pty Ltd (in liq) [2018] NSWSC 2037 Kitay (Liquidator) v Trenfield (Trustee) [2021] FCA 508 Markel Syndicate Management Limited v Taylor as Liquidator of Heading Contractors Pty Ltd (in liq) [2021] FCAFC 198 Re Sydney Formworks Pty Ltd (in liq) [1965] NSWR 646 Tarea Management (North Shore) Pty Ltd (in liq) v Glass (1991) 28 FCR 93 Taylor (liquidator), in the matter of Heading Contractors Pty Ltd (in liq) v Heading [2021] FCA 770 Taylor v Rudaks [2007] FCA 1962; (2007) 166 FCR 451 Williamson v Michell (Trustee) [2019] FCA 481 Yan v Spyrakis as trustee in bankruptcy for Liu [2022] FCA 872
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