Gothard (Liquidator), in the matter of Halifax Investment Services Pty Ltd (in liquidation) v Loo [2024] FCA 323

Federal Court of Australia

Gothard (Liquidator), in the matter of Halifax Investment Services Pty Ltd (in liquidation) v Loo [2024] FCA 323 File number: NSD 2191 of 2018

Judgment of: MARKOVIC J

Date of judgment: 29 February 2024

Date of publication of reasons: 4 April 2024

Catchwords: INSOLVENCY – application by liquidators for directions and judicial advice – application for approval of entry into a deed of settlement in recovery proceedings – where directions and advice sought are given – application for approval pursuant to s 477(2A) and s 477(2B) of the Corporations Act 2001 (Cth) – where approvals sought are given – where liquidators are justified in causing the company to resolve the recovery proceedings

Legislation: Australian Consumer Law, being Sch 2 to the Competition and Consumer Act 2010 (Cth) s 236 Corporations Act 2001 (Cth) s 477 Federal Court of Australia Act 1976 (Cth) s 37AF, 37AG Insolvency Practice Schedule (Corporations), being Sch 2 to the Corporations Act 2001 (Cth) s 90-15 Trustee Act 1925 (NSW) s 63

Cases cited: Elderslie Finance Corp Ltd v Newpage Pty Ltd (No 6) (2007) 160 FCR 423 In the matter of A.C.N 004 410 833 Limited (formerly Arrium Limited) (In Liquidation) [2021] NSWSC 799 In the matter of One.Tel Limited (2014) 99 ACSR 247; [2014] NSWSC 457 Macedonian Orthodox Community Church St Petka Incorporated v His Eminence Petar The Diocesan Bishop of Macedonian Orthodox Diocese of Australia and New Zealand (2008) 237 CLR 66 Re HIH Insurance Ltd [2004] NSWSC 5 Thorn (liquidator), in the matter of South Townsville Developments Pty Ltd (in liq) [2022] FCA 143