Pain v Lombe (liquidator), in the matter of Babcock & Brown Ltd (in liq) [2024] FCA 1338

Federal Court of Australia Pain v Lombe (liquidator), in the matter of Babcock & Brown Ltd (in liq) [2024] FCA 1338 File number(s): NSD 2105 of 2018

Judgment of: HALLEY J

Date of judgment: 21 November 2024

Catchwords: PRACTICE AND PROCEDURE – application for permanent stay of proceeding – abuse of process – Babcock & Brown liquidation – where litigation funder instituted proceeding substantially on same facts and causes of action as other proceedings it had also funded and pursued unsuccessfully – whether relevant connection or sufficient identification between applicants in this proceeding and applicants in other proceedings – whether unreasonable for applicants not to have brought their claims in earlier proceedings – proceeding permanently stayed as an abuse of process

Legislation: Corporations Act 2001 (Cth) ss 471, 674, 1321, 1325, Sch 2 ss 90-15, 90-20

Angeleska (Known as Slaveska) v Victoria (2015) 49 VR 131: [2015] VSCA 140 CBRE (V) Pty Ltd v Trilogy Funds Management Ltd (2021) 107 NSWLR 202; [2021] NSWCA 316 Champerslife Pty Ltd v Manojlovski (2010) 75 NSWLR 245; [2010] NSWCA 33 Ganesh v Dobrowolski [2019] VSC 577 GLJ v Trustees of Roman Catholic Church for Diocese of Lismore (2023) 414 ALR 635; [2023] HCA 32 Grant-Taylor v Babcock & Brown Ltd (in liq) (2015) 104 ACSR 195; [2015] FCA 149 Grant-Taylor v Babcock & Brown Ltd (in liq) (2016) 245 FCR 402; [2016] FCAFC 60 Johnson v Gore Wood & Co (a firm) [2002] 2 AC 1 Kermani v Westpac Banking Corporation (2012) 36 VR 130; [2012] VSCA 42 Legal Profession Complaints v Rayney (2017) 51 WAR 142; [2017] WASCA 78 Cases cited: Lianos v Order of AHEPA NSW Inc (No 4) [2021] NSWCA 159 Masters v Lombe (Liquidator); In the Matter of Babcock and Brown Limited (In Liq) [2019] FCA 1720 Masters v Lombe (in his capacity as liquidator of Babcock & Brown Ltd (in liq) (2021) 154 ACSR 612; [2021] FCAFC 161 Patrick Jeeb as trustee for Trafalgar West Investments Trust v Superior Lawns Australia Pty Ltd [2019] WASC 121 Re HIH Insurance Ltd (in liq); De Bortoli Wines (Superannuation) Pty Ltd v McGrath (2014) 101 ACSR 1; [2014] NSWSC 774 Robinson v Deep Investments Pty Ltd [2018] FCAFC 232 Sheraz Pty Ltd v Vegas Enterprises Pty Ltd (2015) 48 WAR 93; [2015] WASCA 4 South Townsville Developments Pty Ltd (in liq) v Lauvan Pty Ltd [2019] FCA 666 Tomlinson v Ramsey Food Processing Pty Ltd (2015) 256 CLR 507; [2015] HCA 28 TPT Patrol Pty Ltd v Myer Holdings Ltd (2019) 293 FCR 29; [2019] FCA 1747 UBS AG v Tyne (2018) 265 CLR 77; [2018] HCA 45