York, in the matter of Exactech, Inc [2024] FCA 1522

Federal Court of Australia York, in the matter of Exactech, Inc [2024] FCA 1522 File number(s):

Judgment of: HALLEY J

Date of judgment: 23 December 2024

Catchwords: BANKRUPTCY AND INSOLVENCY – application for stay pending recognition of foreign proceeding as a foreign main proceeding pursuant to the Cross-Border Insolvency Act 2008 (Cth) and the Model Law on Cross-Border Insolvency of the United Nations Commission on International Trade Law – whether proceeding likely to be recognised as a foreign main proceeding – whether interim relief urgently needed to protect the assets of the debtor or the interests of the creditors – orders made PRACTICE AND PROCEDURE – application to dispense with r 15A.6 and r 15A.7 of the Federal Court (Corporations) Rules 2000 (Cth) – where plaintiff sought customised notification regime – orders made

Cross-Border Insolvency Act 2008 (Cth) ss 10 and 13 Legislation: Cross-Border Insolvency Act 2008 (Cth) Sch 1, Model Law on Cross-Border Insolvency of the United Nations Commission on International Trade Law (UNCITRAL), arts 2, 15, 16, 17, 19 Federal Court (Corporations) Rules 2000 (Cth) rr 1.8, 15A.6 and 15A.7

Asafuji (in his capacity as the Foreign Representative of the Sanko Steamship Co., Ltd) v The Sanko Steamship Co., Ltd [2012] FCA 1154 Bradley, Astora Women's Health, LLC v Astora Women's Health, LLC (No 2) [2022] FCA 1268 Bradley, Astora Women's Health, LLC v Astora Women's Health, LLC [2022] FCA 1195 Cases cited: Hur v Samsun Logix Corporation [2009] FCA 372 Kapila, in the matter of Edelsten (2014) 320 ALR 506; [2014] FCA 1112 Moore as Debtor-in-Possession of Australian Equity Investors v Australian Equity Investors [2012] FCA 1002 Tucker, in the matter of Aero Inventory (UK) Limited v Aero Inventory (UK) Limited (2009) 76 ACSR 19; [2009] FCA 1354 Young, Jr, in the matter of Buccaneer Energy Limited v Buccaneer Energy Limited [2014] FCA 711