Fortress Credit Corporation (Australia) II Pty Ltd v Fletcher [2014] NSWCA 148

Court of Appeal Supreme Court New South Wales Medium Neutral Citation: Fortress Credit Corporation (Australia) II Pty Ltd v Fletcher [2014] NSWCA 148 Hearing dates: 6 March 2014 Decision date: 14 May 2014 Before: Bathurst CJ at [1]; Beazley P at [114]; Macfarlan JA at [118]; Barrett JA at [124]; Gleeson JA at [136] Decision: (1)Pursuant to s 471B of the Corporations Act 2001 (Cth) grant leave to the applicants nunc pro tunc to bring proceedings CA 2012/395153 against the second and third respondents. (2)Grant the applicants leave to appeal. (3)Direct the applicants within 14 days to file a Notice of Appeal in the form of the Amended Draft Notice of Appeal contained in the Orange Book filed in these proceedings. (4)Appeal dismissed. (5)Order the applicants pay the respondents' costs of the application for leave to appeal and the appeal. [Note: The Uniform Civil Procedure Rules 2005 provide (Rule 36.11) that unless the Court otherwise orders, a judgment or order is taken to be entered when it is recorded in the Court's computerised court record system. Setting aside and variation of judgments or orders is dealt with by Rules 36.15, 36.16, 36.17 and 36.18. Parties should in particular note the time limit of fourteen days in Rule 36.16.] Catchwords: CORPORATIONS - insolvency - voidable transactions - Corporations Act 2001, s 588FF - whether shelf orders are valid

STATUTORY INTERPRETATION - principles - relationship between subsections - purposive approach - conflicting purposes - provision conferring power on court

COURTS AND JUDICIAL SYSTEM - precedent - departure from previous decision - intermediate appellate courts - applicable test - whether previous decision plainly wrong