Australian Securities and Investments Commission v Hopkins [2024] FCA 1371

FEDERAL COURT OF AUSTRALIA Australian Securities and Investments Commission v Hopkins [2024] FCA 1371 File number:

Judgment of: BEACH J

Date of judgment: 27 November 2024

Catchwords: CORPORATIONS — unregistered managed investment schemes — contraventions of s 601ED of Corporations Act 2001 (Cth) — operation of financial services business — failure to hold an Australian financial services licence — contravention of s 911A — receivership of digital assets — winding up on just and equitable grounds — s 461(1)(k) — appointment of receivers and liquidators to schemes — pecuniary penalty — declarations — disqualification orders

Legislation: Corporations Act 2001 (Cth) ss 9, 206C, 461, 601ED, 601EE, 763A, 763B, 764A, 766A, 766C, 911A, 1317E, 1317G, 1323, 1324 Federal Court of Australia Act 1976 (Cth) ss 21, 23, 57

Australian Securities and Investments Commission v Bilkurra Investments Pty Ltd [2016] FCA 371 Australian Securities and Investments Commission v Helou (No 2) [2020] FCA 1650 Australian Securities and Investments Commission v Mitchell (No 3) (2020) 148 ACSR 630 Australian Securities and Investments Commission v Westpac Banking Corporation (Omnibus) (2022) 407 ALR 1 National Australia Bank Ltd v Bond Brewing Holdings Ltd [1991] 1 VR 386 Cases cited: Rathner (liquidator), in the matter of Garrows Close Pty Ltd (in liq) [2021] FCA 505 Re All Purpose Labour Pty Ltd (In Liquidation) as Trustee for the ATC Unit Trust [2024] VSC 547 Re HIH Insurance Ltd (in prov liq) and HIH Casualty and General Insurance Ltd (in prov liq); Australian Securities and Investments Commission v Adler (2002) 42 ACSR 80 University of Western Australia v Gray (No 6) [2006] FCA 1825 Vines v Australian Securities and Investments Commission (2007) 63 ACSR 505 Woods v Harrison, in the matter of Telco Service Holdings Pty Ltd (in liquidation) [2017] FCA 732