Australian Securities and Investments Commission v ALAMMC Developments Pty Ltd (No 2) [2024] FCA 1505

FEDERAL COURT OF AUSTRALIA

Australian Securities and Investments Commission v ALAMMC Developments Pty Ltd (No 2) [2024] FCA 1505 File number(s): QUD 532 of 2024

Judgment of: O'SULLIVAN J

Date of judgment: 20 December 2024

Catchwords: PRACTICE AND PROCEDURE — where Receivers appointed to the property of the defendants by the Court whilst ASIC conducting an investigation — whether the Receivers would be justified and acting reasonably in refusing to consent to pay and in not paying from the property of a defendant reasonable legal costs incurred by the defendant — orders made that the Receivers would be justified in consenting to pay and in paying from a defendant's property, an amount for that particular defendant's legal costs, and if there is not sufficient property of that defendant, in paying such portion of the amount as the Receivers see fit

Legislation: Corporations Act 2001 (Cth), s 1323 Federal Court of Australia Act 1976 (Cth), s 54A Federal Court Rules 2011 (Cth), rr 28.65(7), 28.66(a)

Cases cited: Australian Securities and Investments Commission v GDK Financial Solutions Pty Ltd and Ors (2006) 60 ACSR 447; [2006] FCA 1415 HN QCV Tree Village Pty Ltd v QCV Bottle Tree Village Pty Ltd [2018] NSWSC 1807 Murray v King [1984] FCA 283; (1984) 55 ALR 559

Division: General Division

Registry: Queensland

National Practice Area: Commercial and Corporations

Sub-area: Corporations and Corporate Insolvency

Number of paragraphs: 29

Date of hearing: 3 December 2024

Counsel for the Plaintiff: Mr M Steele KC with Mr L Freckelton