Krejci, in the matter of Union Standard International Group Pty Limited (No 8) [2023] FCA 1054

FEDERAL COURT OF AUSTRALIA

Krejci, in the matter of Union Standard International Group Pty Limited (No 8) [2023] FCA 1054 File number(s): NSD 754 of 2020

Judgment of: CHEESEMAN J

Date of judgment: 18 September 2023

Catchwords: CORPORATIONS – application by liquidators for orders under s 90-15 Schedule 2 - Insolvency Practice Schedule (Corporations) 2016 to the Corporations Act 2001 (Cth) or s 63 of the Trustee Act 1925 (NSW) – where orders sought include judicial guidance on whether the liquidators are justified and acting reasonably in continuing two extant proceedings in this Court – where orders sought include judicial guidance on whether the liquidators are justified in paying their remuneration (subject to approval by creditors, Committee of Inspection or the Court), costs and expenses in connection with this application and the two extant proceedings out of funds held by the Company which are subject to a statutory trust arising under s 981H of the Corporations Act 2001 (Cth) – Held: Application granted CORPORATIONS – application by liquidators pursuant to s 588FF(3)(b) for extension of time to commence claims – where delay caused by complexity of affairs of Company coupled with active obstruction and prima facie contempt by third parties – where reasonable attempt to notify affected parties – where no evidence of prejudice Held: application granted PRACTICE AND PROCEDURE – confidentiality orders sought in respect of evidence supporting the application – where the evidence includes legal advice in respect of proceedings on foot – where the liquidator deposes to the potential risk that defendants to the proceedings on foot may obtain an unfair strategic advantage if the confidential information including legal advice disclosed – Held: Application granted