Federal Court of Australia
Federal Court of Australia
Endless Solar Corporation Limited v Australian Securities and Investments Commission, in the matter of Speedpanel Australia Ltd (No 2) [2023] FCA 1290 File number(s): NSD 172 of 2023
Judgment of: O'BRYAN J
Date of judgment: 27 October 2023
Catchwords: CORPORATIONS – application for review of order made by Judicial Registrar to reinstate the registration of a company pursuant to s 601AH(2) of the Corporations Act 2001 (Cth) – where reinstatement sought by a shareholder of the company to enable pursuit of proceedings against and on behalf of the company – whether shareholder is a "person aggrieved" for the purpose of s 601AH(2)(a) – whether the Court is satisfied that it is just that the company's registration be reinstated pursuant to s 601AH(2)(b) – where the relevant considerations include the merits of the proposed claims against the company, the utility of the proposed proceedings, the funding available to prosecute the proposed claims, and the delay in seeking to advance those claims – application for review dismissed
Legislation: Corporations Act 2001 (Cth), ss 233, 442A, 601AB, 601AH(2) Federal Court of Australia Act 1976 (Cth), s 35(5)-(6) Federal Court (Corporations) Rules 2000 (Cth), r 2.13(1)
Cases cited: AMP General Insurance Ltd v Victorian WorkCover Authority (2006) 15 VR 175 Bechara v Bates (2021) 286 FCR 166 Brisbane South Regional Health Authority v Taylor (1996) 186 CLR 541 du Boulay v Worrell [2008] QSC 174 Endless Solar Corporation Limited v Australian Securities and Investments Commission, in the matter of Speedpanel Australia Ltd [2023] FCA 720 Harris v Caladine (1991) 172 CLR 84 Melluish v Underwood Development Pty Ltd [2004] NSWSC 429 Norbis v Norbis (1986) 161 CLR 513 Re ERB International Pty Ltd (deregistered) [2014] NSWSC 200; 98 ACSR 124 Yeo v Australian Securities and Investments Commission, in the matter of Ji Woo International Education Centre Pty Ltd (deregistered) [2017] FCA 1480
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