Gemi 143 Pty Ltd v The Gosford Pty. Limited (Receivers and Managers Appointed), in the matter of The Gosford Pty. Limited [2023] FCA 1375

Federal Court of Australia

Gemi 143 Pty Ltd v The Gosford Pty. Limited (Receivers and Managers Appointed), in the matter of The Gosford Pty. Limited [2023] FCA 1375 File number(s): NSD 891 of 2023

Judgment of: HALLEY J

Date of judgment: 8 November 2023

Catchwords: CORPORATIONS – application for fixing of time in respect of registration of security interests due to inadvertent delay in registration – application made under s 588FM of the Corporations Act 2001 (Cth) (Act) – Court has discretion to fix a later time – triggering of "later time" under s 588FL(2)(b)(iv) of the Act – whether extension orders are just and equitable – whether extensions order would prejudice creditors or shareholders – application granted – orders made substantially in the form sought

Legislation: Corporations Act 2001 (Cth) ss 436A, 436B, 436C, 588FM, 588FL Personal Property Securities Act 2009 (Cth) s 153 Federal Court Rules 2011 (Cth) rr 9.05(1), 1.34 Federal Court (Corporations) Rules 2000 (Cth) rr 2.3, 2.4, 2.7

Cases cited: ACE Funding Ltd [2003] FCA 59 Bluewaters Power 1 Pty Ltd v The Griffin Coal Mining Company Pty Ltd [2019] WASC 438 Commonwealth Bank of Australia v HM Aircraft Holdings Pty Ltd [2021] FCA 447 Elimatta Pty Ltd v NT Bullion Pty Ltd, in the matter of NT Bullion Pty Ltd [2021] FCA 1416 Von Arx v Todae Solar Pty Ltd, in the matter of Todae Solar Pty Ltd (Administrators Appointed) [2020] FCA 1071 National Australia Bank Limited v Davis & Waddell (Vic) Pty Ltd [2003] VSC 1 One Corporate Trust Services Ltd v MSLP Assets Pty Ltd in its capacity as trustee for the MSLP Assets Trust [2022] FCA 555