Corporations and Corporate Insolvency Sub-area
Corporations and Corporate Insolvency Sub-area
About this Sub-Area
This Sub-area includes corporations matters and corporate insolvency matters, which are capable of being heard in the Corporations List.
The expression “corporations matters” in this Sub-area includes:
- the appointment or conduct of liquidators
- schemes of arrangement
- shareholder oppression actions
- Australian Securities and Investments Commission actions, such as the approval of director appointments, winding-up of companies, fundraising matters, corporate management and misconduct by company officers
- corporations matters referred to a Judge by a Judicial Registrar.
Corporate insolvency matters in this Sub-area include matters such as:
- voidable transactions
- extending of convening periods
- cross-border insolvency.
This Sub-area does not include any personal bankruptcy matters. Bankruptcy matters fall within the General and Personal Insolvency Sub-area in the Commercial and Corporations NPA.
Corporations List matters
Each registry has a Corporations List and dedicated Corporations Judges. Corporations Lists in each Registry operate consistently in accordance with the National Court Framework principles for corporations matters and according to the workflow and needs of the particular Registry.
Corporations List matters will generally be heard within 2–5 weeks from the date of filing (depending on the needs of the parties and the character of the matter).
Further information about the operation of the Corporations Lists is detailed in Schedule 1 of the Commercial and Corporations Practice Note.
Schemes of Arrangement
Practitioners considering filing a scheme matter should familiarise themselves with the Schemes of Arrangement Practice Note (GPN-SOA). Prior to filing a scheme matter, practitioners should contact the National Operations Team in order to ascertain Judge availability on the proposed hearing dates. Where possible, practitioners should provide multiple date options for the first and second hearings, as well as noting the registry or possible registries of filing and the proposed filing date(s). The Court will endeavour to accommodate the hearing dates sought and will confirm whether or not a Judge has availability to accommodate the preferred dates. Practitioners should ensure that the Court is kept updated on any subsequent developments, such as any likely delays in filing the originating documents or any changes to the hearing dates sought.
Corporations matters before a Judicial Registrar
Registrars of the Federal Court have delegated jurisdiction to hear and determine a number of corporations matters including:
- winding-up applications
- applications to set aside a statutory demand
- reinstatement applications
- applications for termination of winding-up orders
- applications to fix external administrator’s remuneration under the Corporations Act 2001 (Cth) (Corporations Act)
- examinations pursuant to s 596A and 596B of the Corporations Act.
A Guide for Practitioners and Parties in Corporations Matters listed before a Judicial Registrar has been prepared to assist litigants who intend to apply to the Court for such corporations matters.
Practice Notes
All practice notes are to be read with the Central Practice Note. It is the essential guide to practice in the Federal Court in all proceedings.
Central Practice Note (CPN-1)
The NPA practice note sets out the arrangements for the management of Commercial and Corporations proceedings in this Sub-area:
NPA Practice Note: | NOTE: refer also to Schedule 1 of the practice note – Corporations and Corporate Insolvency Sub-area. |
Other general practice notes and Court developed guides which may be relevant to this Sub-area include:
General Practice Notes: |
|
Guides: |
Forms, Rules & Fees
Filing fees for commencing a proceeding in this Sub-area may apply. Information about Court fees, including the fees payable and circumstances where an exemption or deferral can be given is available in Forms, Fees & Costs or from the Registry.
The general procedure for the conduct of matters in this Sub-area is set out in the Federal Court (Corporations) Rules 2000 (Corporations Rules). As the Corporations Rules do not provide a comprehensive code, the Federal Court Rules 2011 (Cth) (Rules) also apply except to the extent of any inconsistency.
In corporations matters, the applicant is known as the “Plaintiff” and the respondent as the “Defendant”.
Judge related matters
A person may commence a corporations matter in this Sub-area by filing:
Forms: |
|
Rules: |
|
Note: |
|
Parties should consider whether it is necessary to file a Genuine steps statement (Form 16) in certain proceedings in this NPA - see r 8.02 of the Rules and the Civil Dispute Resolution Act 2011 (Cth) (including sections 6, 7 and 16).
Judicial Registrar related matters
Applications under s459P of the Corporations Act for a winding-up order on the ground of insolvency are commenced by filing:
Forms: |
|
Rules: |
|
Notes: |
|
Latest Judgments
- 28 Jun 2024:
Connelly as Receiver and Manager of "Digital Currency Assets" v NGS Crypto Pty Ltd (No 2) [2024] FCA 697
CORPORATIONS LAW - ex parte application for judicial advice by court-appointed receivers - where defendants in business of investing in cryptocurrency - whether judicial advice should be granted - where decision may be controversial - whether the application is a different one from the first judicial advice application brought in the proceeding -…
Judge: Meagher J - 28 Jun 2024:
Stone (liquidator), in the matter of Ironbark Blacksmithing Pty Ltd (in liq) v Mizzi [2024] FCA 696
CORPORATIONS - application by liquidator of company for recovery of shareholder loans from company to the defendants, and damages for breaches of directors' duties and insolvent trading - where defendants were the sole directors and shareholders of the Company - whether company made loans to the defendants by way of loan agreement pursuant to Div…
Judge: Halley J - 24 Jun 2024:
Mesha Feet Pty Ltd v Allen acting as Deputy Commissioner of Taxation [2024] FCA 680
CORPORATIONS - application for review of a decision of a Registrar pursuant to s 35A(5) of the Federal Court of Australia Act 1976 (Cth) - where originating process seeks to set aside a statutory demand issued to the Plaintiff by the Defendant - where Plaintiff claims to have discharged its taxation liabilities by a "Promissory Note" and a "Bill…
Judge: Button J - 21 Jun 2024:
Farnsworth (Liquidator), in the matter of Nat Logistics Australia Pty Ltd (In liquidation) [2024] FCA 676
CORPORATIONS - application by liquidator for judicial direction under s 90-15 Schedule 2 - Insolvency Practice Schedule (Corporations) 2016 to the Corporations Act 2001 (Cth) - where direction confined to limited effect of affording protection to the liquidator - where interested persons potentially affected notified and have not sought to be…
Judge: Cheeseman J - 21 Jun 2024:
Commissioner of State Revenue v McCabe (No 2) [2024] FCA 662
CORPORATIONS - voluntary administration - resolution of creditors of corporate group to execute Deed of Company Arrangement (DOCA) - application by Commissioner of State Revenue under ss 445D(1) or s 447A of the Corporations Act 2001 (Cth) to set aside DOCA CORPORATIONS - whether DOCA continuing on foot is against public interest and commercial…
Judge: Sarah C Derrington J - 21 Jun 2024:
Australian Securities and Investments Commission v iSignthis Limited [2024] FCA 669
CORPORATIONS - continuous disclosure - alleged contraventions of ss 674(2) and 1041H of the Corporations Act 2001 (Cth) - whether the company (iSignthis Limited) engaged in conduct, in relation to a financial product or a financial service, that was misleading or deceptive, or likely to mislead or deceive - whether the company failed to notify the …
Judge: McEvoy J - 20 Jun 2024:
Kogan, in the matter of Insitec Pty Ltd (Administrators Appointed) [2024] FCA 672
CORPORATIONS - application for orders pursuant to s 447A of the Corporations Act 2001 (Cth) limiting the liability of administrators with respect to a facility agreement entered into for the purposes of enabling the companies under administration to continue to trade for the benefit of creditors - application allowed
Judge: Goodman J - 18 Jun 2024:
Cooper (Receiver), in the matter of Green Grain Processing Technologies Pty Ltd (Receivers Appointed) (No 2) [2024] FCA 683
PRACTICE AND PROCEDURE -- orders made for disclosure of documents evidencing the transfer of funds --orders not complied with -- reference to ss 37P(5) and (6) and rr 5.23, 41.03 and 41.04 -- order for compliance extended
Judge: O'Sullivan J - 18 Jun 2024:
Sparks, in the matter of IG Energy Holdings (Australia) Pty Ltd (Administrators Appointed) (No 2) [2024] FCA 648
PRACTICE AND PROCEDURE - application seeking order that plaintiff in proceedings give undertaking as to damages - application made consequent upon deferral of hearing date - where application is made one week prior to hearing - where circumstances giving rise to possibility for requiring an undertaking were caused by applicant - where scope of…
Judge: Derrington J - 17 Jun 2024:
Team Dreegan Pty Ltd v Moss, in the matter of Symich Building Pty Ltd [2024] FCA 636
PRACTICE AND PROCEDURE - application to set aside notice to produce where plaintiff served notice to produce purportedly under r 20.31 of the Federal Court Rules 2011 (Cth) which the plaintiff sought inspection of documents referred to in the plaintiff's own witness affidavits - fundamental flaw immediately notified by the defendant - notice to…
Judge: Goodman J
Subscribe
To stay up-to-date with news in the Federal Court, including developments in this NPA, subscribe to our email subscription services.
We provide subscriptions to the latest judgments and events (by NPA); Practice News to keep up-to-date with changes to practice and procedure; and Daily Court Listings.
Important note: This information is procedural advice only. You should seek your own legal advice about legal cases and procedure in the Federal Court and in this area of law.