Australian Securities and Investments Commission v United Global Capital Pty Ltd [2024] FCA 1215

Australian Securities and Investments Commission v United Global Capital Pty Ltd [2024] FCA 1215 File number(s):

Judgment of: NESKOVCIN J

Date of judgment: 3 October 2024

Date of publication of reasons 21 October 2024

Catchwords: CORPORATIONS – application for winding up order on just and equitable grounds pursuant to s 461(1)(k) of the Corporations Act 2001 (Cth) – where there is a lack of confidence in the conduct and management of the company's affairs – winding up ordered

Australian Securities and Investments Commission Act 2001 (Cth) s 13 Legislation: Corporations Act 2001 (Cth) ss 461(1)(k), 466(2), 912A, 961B, 961G, 961K, 961L, 992A, 992AA, 1308 Federal Court of Australia Act 1976 (Cth) s 43

ACCC v Coles Supermarkets Australia Pty Ltd [2014] FCA 1405 ASIC v Aviation [2019] FCA 377 ASIC v Brite Advisors Pty Ltd [2024] FCA 69 ASIC v Groves & Ors [2009] FCA 915 ASIC v M101 Nominees Pty Ltd [2021] FCA 62 ASIC v PayPal Australia Pty Ltd [2024] FCA 762 Cases cited: ASIC v Secure Investments Pty Ltd (No 2) (2020) 148 ACSR 154; [2020] FCA 1463 Australian Securities and Investments Commission v Activesuper Pty Ltd (No 2) (2013) ACSR 189; [2013] FCA 234 EEU20 v Meat Industry Employees' Superannuation Fund Pty Ltd (Trustee) (No 2) [2020] FCA 1536 One Tel Ltd v Deputy Commissioner of Taxation (2000) 101 FCR 548; [2000] FCA 270 Oshlack v Richmond River Council (1998) 193 CLR 72; [1998] HCA 11 Re Minister for Immigration; Ex parte Lai Qin (1997) 186 CLR 622; [1997] HCA 6 Thomson Australian Holdings Pty Ltd v The Trade Practices Commission (1981) 148 CLR at 164; [1981] HCA 48