PricewaterhouseCoopers Inc in its Capacity as Foreign Representative of IE CA 3 Holdings Ltd v IE CA Holdings Ltd [2024] FCA 1208

Federal Court of Australia PricewaterhouseCoopers Inc in its Capacity as Foreign Representative of IE CA 3 Holdings Ltd v IE CA Holdings Ltd [2024] FCA 1208 File number: NSD 1293 of 2024

Judgment of: MARKOVIC J

Date of judgment: 18 October 2024

Catchwords: BANKRUPTCY AND INSOLVENCY – cross-border insolvency – application for recognition of foreign main proceeding – where granting recognition is not contrary to Australian public policy – application seeking relief under Art 21 of the UNCITRAL Model Law on Cross-Border Insolvency – where granting relief sought does not constitute an abuse of process – application granted

Legislation: Corporations Act 2001 (Cth) s 596A and s 596B Cross-Border Insolvency Act 2008 (Cth) Sch 1, being the UNCITRAL Model Law on Cross-Border Insolvency, Arts 6, 17, 21

Akers v Deputy Commissioner of Taxation (2014) 223 FCR 8 Aon Risk Services Australia Limited v Australian National University (2009) 239 CLR 175 Henry v Henry (1996) 185 CLR 571 Highstoke Pty Ltd v Hayes Knight GTO Pty Ltd (2007) 156 FCR 501 IE CA 3 Holdings Ltd. v NYDIG ABL LLC 2024 BCCA 244 In re Black Gold S.A.R.L. 635 BR 517 (9th Cir. BAP 2022) Garuda, In the matter of Codere Finance (UK) Limited [2015] EWHC 3778 (Ch) Cases cited: Kapila, Re Edelsten [2014] FCA 1112; (2014) 320 ALR 506 LFDB v SM (2017) 256 FCR 218 Nordic Trustee ASA and another v OGX Petroleo e Gas SA (Em Recuperacao Judicial) and another [2016] EWHC 25 (Ch) Re Abate, in his capacity as Liquidator of Onix Capital SA [2017] FCA 751 Re PT Garuda Indonesia (Persero) Tbk [2024] SGHC(I) 1 Re Zetta Jet Pte Ltd & Ors [2018] SGHC 16 UBS AG v Tyne (2018) 265 CLR 77 Williams v Spautz (1992) 174 CLR 509