Australian Securities and Investments Commission v Caddick (No 2) [2023] FCA 1196

FEDERAL COURT OF AUSTRALIA

Australian Securities and Investments Commission v Caddick (No 2) [2023] FCA 1196 File number: NSD 1220 of 2020

Judgment of: MARKOVIC J

Date of judgment: 5 June 2023

Date of publication of reasons: 9 October 2023

Catchwords: CORPORATIONS – application made by receivers appointed pursuant to s 1101B(1) of the Corporations Act 2001 (Cth) – application for directions pursuant to the Court's inherent jurisdiction; whether the receivers would be justified in making certain distributions – directions as to the method of distribution – whether the receivers would be justified in distributing to out-of-pocket investors on a pari passu basis – directions in relation to the proposed treatment of a loan secured by mortgage over receivership property –consideration of the position of interested persons – application granted CORPORATIONS – application made by liquidators seeking directions pursuant to s 90-15 of the Insolvency Practice Schedule (Corporations), being Sch 2 to the Corporations Act – directions that the liquidators are justified in providing certain releases – directions that the liquidators are justified in not further investigating, assigning or commencing claims that the company may have in relation to distribution of assets realised in the liquidation – application granted PRACTICE AND PROCEDURE – application to extend suppression order – whether order necessary to prevent prejudice to proper administration of justice – application granted