Generate Group Pty Ltd v Harris [2023] FCA 605

Federal Court of Australia

Generate Group Pty Ltd v Harris [2023] FCA 605 File numbers: NSD 1124 of 2022 NSD 196 of 2023

Judgment of: STEWART J

Date of judgment: 8 June 2023

Catchwords: CORPORATIONS – where liquidator purported to assign choses in action pursuant to a heads of agreement and deed of assignment – where court approval required under s 477(2B) of the Corporations Act 2001 (Cth) – where assignee commenced proceedings before court approval sought or granted – principles governing retrospective approval – interests of creditors and the proper administration of companies in liquidation PRACTICE AND PROCEDURE – summary dismissal –whether assignment without court approval effective as regards third parties – whether proceedings commenced before approval a nullity – effect of granting approval nunc pro tunc

Legislation: Corporations Act 2001 (Cth) ss 477(2)(d), 477(2B), 506(1)(b), 506(1A)(a), 1322(4)(a) Federal Court (Corporations) Rules 2000 (Cth) r 2.13(1) Federal Court Rules 2011 (Cth) rr 16.53, 16.54

Cases cited: BHP Coal Pty Ltd v Construction, Forestry, Mining and Energy Union [2014] FCAFC 138; 226 FCR 240 Brisbane South Regional Health Authority v Taylor [1996] HCA 25; 186 CLR 541 Byers v Overton Investments Pty Ltd [2001] FCA 760; 109 FCR 554 Corporate Affairs Commission v ASC Timber Pty Ltd (1998) 29 ACSR 109 Deigan v Fussell [2019] NSWCA 299 Empire (Aust) Nominees Pty Ltd v Vince [2000] VSC 324; 35 ACSR 167 Federal Commissioner of Taxation v Kassem [2012] FCAFC 124; 205 FCR 156 Hall v Poolman [2009] NSWCA 64; 75 NSWLR 99 Hamilton, in the matter of ACN 101 634 146 Pty Ltd (in liq) [2014] FCA 687 Hayes, in the matter of Dingham Constructions Pty Ltd (in liq) [2018] FCA 2053 HIH Casualty [2002] NSWSC 1036 Hundy (liquidator), in the matter of 3 Property Group 13 Pty Ltd (in liq) [2022] FCA 1216 In the matter of Golden Sands Hospitality Pty Ltd (in liq) (No 2) [2017] NSWSC 450 In the matter of Kevin Jacobsen Pty Ltd (in liq) [2016] NSWSC 538 In the matter of Octaviar Ltd (in liq) [2015] NSWSC 1621; 110 ACSR 72 In the matter of One.Tel Ltd [2014] NSWSC 457; 99 ACSR 247 Lord Corporation Pty Ltd v Green (1991) 22 NSWLR 532 Martin Bruce Jones as liquidator of Forge Group Ltd (recs and mgrs. apptd) (in liq) v Sun Engineering (Qld) Pty Ltd [2017] WASC 195 Re Ambient Rail Pty Ltd (in liq); Ex parte Tonks [2019] FCA 1556 Read, in the matter of Forestview Nominees Pty Ltd [2007] FCA 1985; 164 FCR 237 Rolfe v Investec Bank (Aust) Ltd [2014] VSCA 38 Stewart, in the matter of Newtronics Pty Ltd [2007] FCA 1375 Stone v ACE-IRM Insurance Broking Pty Ltd [2003] QCA 218; [2004] 1 Qd R 173 Williams v Spautz [1992] HCA 34; 174 CLR 509