Registrar of Personal Property Securities v Brookfield [2024] FCA 29

FEDERAL COURT OF AUSTRALIA

Registrar of Personal Property Securities v Brookfield [2024] FCA 29 File number(s): QUD 202 of 2023

Judgment of: SARAH C DERRINGTON J

Date of judgment: 30 January 2024

Catchwords: CORPORATIONS – Securities – registration of purported security interest under Personal Property Securities Act 2009 (Cth) – whether applicant applied to register financing statements – whether applicant was a secured party – whether belief on reasonable grounds applicant was or would become secured party in relation to collateral – whether debt under sale and purchase agreement created security interest in favour of applicant – imposition of pecuniary penalty

Legislation: Administrative Appeals Tribunal Act 1975 (Cth) s 29(2)(a) Australian Securities and Investments Commission Act 2001 (Cth) s 1(2)(g) Commonwealth Electoral Act 1918 (Cth) Competition and Consumer Act 2010 (Cth) Sch 2, s 2 Corporations Act 2001 (Cth) Ch 7, s 760A Crimes Act 2014 (Cth) ss 4AA Fair Work Act 2009 (Cth) s 546 Regulatory Powers (Standard Provisions) Act 2014 (Cth) Pt 4, ss 80, 81, 82, 85, 93 Personal Property Securities Act 2009 (Cth) Pt 5.6, 6.3, ss 3, 8, 10, 12, 151, 221, 271, 343 Sale of Goods Act 1896 (Qld) s 41

Cases cited: Australian Building and Construction Commissioner v Pattinson [2022] HCA 13; 274 CLR 450 Australian Competition and Consumer Commission (ACCC) v Yazaki Corporation [2018] FCAFC 73; 262 FCR 243 Australian Competition and Consumer Commission v Google LLC (No 4) [2022] FCA 942 Australian Competition and Consumer Commission v Uber B.V. [2022] FCA 1466 Australian Competition and Consumer Commission v Volkswagen Aktiengesellschaft [2019] FCA 2166 Australian Ophthalmic Supplies Pty Ltd v McAlary-Smith (2008) 165 FLR 560 Brookfield, in the matter of Real Estate Now Pty Ltd v Real Estate Now Pty Ltd [2020] FCA 352 Brookfield v Real Estate Now Pty Ltd and Anor [2023] QDC 86 Brookfield v Real Estate Now Pty Ltd [2017] FCA 1083 Brookfield v Real Estate Now Pty Ltd [2019] FCA 993 Brookfield v Real Estate Now Pty Ltd [2021] QDC 95 Brookfield v RealEstate Now Pty Ltd [2021] QDC 226 Brookfield v Realestate Now Pty Ltd [2022] QDC 87 Brookfield v Real Estate Now Pty Ltd [2023] QCA 259 Brookfield v State of Queensland [2023] QSC 125 Commonwealth v Director, Fair Work Building Industry Inspectorate [2015] HCA 46; 258 CLR 482 Construction, Forestry, Mining and Energy Union v Cahill [2010] FCAFC 39 Curo Capital Pty Ltd v Registrar of Personal Property Securities [2020] FCA 1515 Dura (Australia) Constructions Pty Ltd v Hue Boutique Living Pty Ltd [2014] VSCA 326; 49 VR 86 Elderly Citizens Homes of SA Inc v Balnaves (1998) 72 SASR 210 Electoral Commissioner of Australian Electoral Commission v Wharton (No 3) [2021] FCA 742 George v Rockett (1990) 170 CLR 104 Gye v McIntyre (unreported, Beaumont J, 26 May 1992) Hoobin v Samuels (1971) 2 SASR 238 Macquarie Leasing Pty Ltd v DEQMO Pty Ltd [2014] NSWSC 1466 Macquarie Leasing Pty Ltd v The Registrar of the Personal Property Securities Register [2014] NSWSC 1677 Makhoul v Barnes (1995) 60 FCR 572 National Australia Bank Ltd v Garrett [2016] FCA 714; 340 ALR 532 Pacific Brands Sport & Leisure Pty Ltd v Underworks Pty Ltd [2006] FCAFC 40 Real Estate Now Pty Ltd v Brookfield [2018] FCCA 3072 Rubis v Garrett as Trustee of the Andrew Garrett Family Trust Trading as Dynamic Commercial Workforce Solutions (No 2) [2018] FCA 2011 Sandhurst Golf Estates Pty Ltd v Coppersmith Pty Ltd (2014) 285 FLR 267 Trade Practices Commission v CSR Ltd [1990] FCA 762 Treasury Wine Estates Vintners Ltd v Garrett [2016] FCA 715 Warehouse Sales Pty Ltd (in liq) and Lewis and Templeton v LG Electronics Australia Pty Ltd [2014] VSC 644; 291 FLR 407 Whyked Pty Ltd v Yahoo Australia and New Zealand Pty Ltd [2006] NSWSC 650