Australian Securities and Investments Commission v Letten (No 29) [2023] FCA 315

FEDERAL COURT OF AUSTRALIA

Australian Securities and Investments Commission v Letten (No 29) [2023] FCA 315 File number(s): VID 95 of 2010

Judgment of: BUTTON J

Date of judgment: 6 April 2023

Catchwords: CORPORATIONS – winding up – application for release of liquidator and deregistration of companies – where applicant was appointed liquidator of corporate defendants associated with unregistered managed investment schemes – where liquidator deposes to compliance with applicable Court rules – Corporations Act 2001 (Cth) ss 480, 481 –Federal Court (Corporations) Rules 2000 (Cth) rr 2.7, 7.5 CORPORATIONS – unregistered managed investment schemes – application for release of receiver and manager – where order sought providing for unclaimed moneys in winding up of unregistered schemes to be dealt with by the Australian Securities and Investments Commission under Pt 9.7 of the Corporations Act 2001 (Cth) – where previous pooling orders determined investors' rights to claim funds – Corporations Act 2001 (Cth) s 601EE

Legislation: Corporations Act 2001 (Cth) Pt 9.7, ss 9, 480, 481, 601EE, 1323, 1339, 1341 Federal Court (Corporations) Rules 2000 (Cth) rr 2.8, 7.5

Cases cited: Australian Securities & Investments Commission v Piggott Wood & Baker (A Firm) (No 7) [2023] FCA 193 Australian Securities and Investments Commission v Letten (No 7) (2010) 190 FCR 59 Australian Securities and Investments Commission v Letten (No 17) (2011) 286 ALR 346 Australian Securities and Investments Commission v Tasman Investment Management Ltd (2006) 59 ACSR 113 Nut Trading Co (Aust) Pty Ltd v KKL (Kangaroo Line) Pty Ltd (1997) 25 ACSR 580 Re Austral Family Homes Pty Ltd (in liq) (1992) 28 NSWLR 247 Re Idylic Solutions Pty Ltd [2018] NSWSC 700 Re RR Impex Pty Ltd (in liq) [2013] NSWSC 1667