Australian Securities and Investments Commission v Marco (No 16) (Special Purpose Appointment) [2024] FCA 1000

FEDERAL COURT OF AUSTRALIA Australian Securities and Investments Commission v Marco (No 16) (Special Purpose Appointment) [2024] FCA 1000 File numbers: WAD 481 of 2018 WAD 40 of 2024

Judgment of: FEUTRILL J

Date of judgment: 2 September 2024

CORPORATIONS – application to appoint special purpose receivers to unregistered managed investment scheme and special purpose liquidators to scheme operator - special purpose to investigate and pursue claims of scheme members against third parties – consideration of applicable principles Catchwords: CORPORATIONS – application for Court approval of special purpose receivers and special purpose liquidators entering into litigation funding agreement – application made before appointment – consideration of applicable principles PRACTICE AND PROCEDURE – application for suppression and non-publication orders – confidential and commercially sensitive information – information subject to legal professional privilege – information disclosed to support appointment of special purpose receivers and managers and special purpose liquidators – information disclosed to support approval of officer of the Court entering into a litigation funding agreement

Corporations Act 2001 (Cth) ss 9, 20(1)(a), 57B, 420, 424, 459B, 461(1)(k), 467B, 477(2)(a)-(b), 477(2B), 511, 556(1)(a), 601ED, 601EE, 601EE(2), 1101B(8), 1324, 1325; Pts 5.4B, 5.6, 5.7B, 5.9 Insolvency Practice Schedule (Corporations) ss 5-30, 60-5, 60-10, 60-10(4), 60-12, 90-A, 90-15, 90-20; Sch 2 Legislation: Federal Court of Australia Act 1976 (Cth) ss 23, 37AE, 37AF, 37AG, 37AH, 37AH(2), 37AJ, 37M, 51(2), 57(1) Federal Court Rules 2011 (Cth) rr 1.32, 1.34, 1.35, 2.32(1)(b), 2.32(2), 2.32(3), 2.32(4), 14.24 Trustees Act 1962 (WA) s 92