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:
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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:
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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:
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Latest Judgments
- 21 Nov 2024:
Masters v Lombe (liquidator), in the matter of Babcock & Brown Limited (in liq) (Lump Sum Costs) [2024] FCA 1336
COSTS - applications for lump sum determinations -where existing costs orders made in a suite of related primary and appeal proceedings - where primary judge retired - where application for lump sum determination made after special leave applications dismissed - whether orders should be made for lump sum determinations in respect of existing cost…
Judge: Cheeseman J - 21 Nov 2024:
Pain v Lombe (liquidator), in the matter of Babcock & Brown Ltd (in liq) [2024] FCA 1338
PRACTICE AND PROCEDURE - application for permanent stay of proceeding - abuse of process - Babcock & Brown liquidation - where litigation funder instituted proceeding substantially on same facts and causes of action as other proceedings it had also funded and pursued unsuccessfully - whether relevant connection or sufficient identification…
Judge: Halley J - 19 Nov 2024:
Australian Securities and Investments Commission v Pattenden [2024] FCA 1331
PRACTICE AND PROCEDURE - application to strike out paragraphs of amended statement of claim (ASOC) - application for plaintiff to serve particulars of paragraphs of ASOC - where contraventions alleged in ASOC are pleaded in a "rolled up" way - where allegations in pleading cover periods outside the defined relevant period
Judge: Kennett J - 15 Nov 2024:
Frigger v Professional Services of Australia Pty Ltd (No 6) [2024] FCA 1320
PRACTICE AND PROCEDURE - application to reopen security for costs orders - dismissal of proceeding following determination of separate questions COSTS - liability for legal costs - consideration of indemnity principle - costs awarded on a lump sum basis
Judge: Feutrill J - 15 Nov 2024:
Park, in the matter of IG Power (Callide) Ltd (Administrators Appointed) (No 4) [2024] FCA 1316
CORPORATIONS - external administration of a group of companies - application by administrators for directions under s 90-15 of Sch 2 to the Corporations Act 2001 (Cth) - issue of construction of pre-emption rights clauses in joint venture agreement - where direction opposed on various bases - direction made
Judge: Derrington J - 13 Nov 2024:
Naidenov (as liquidator) v Anderson, in the matter of Peach & Co Pty Ltd (in liq) (No 2) [2024] FCA 1306
COSTS - whether a forthwith costs order should be made on the basis of the financial position of the party entitled to costs, the conduct of the plaintiffs in pursuing an interlocutory application for an order under s 1323(1) of the Corporations Act 2001 (Cth), or because of the application having been dismissed at an early stage of the proceeding …
Judge: Goodman J - 13 Nov 2024:
Cussen, in the matter of Monarch Tower Pty Ltd (in liq) v Sinoace Holdings Ltd (No 2) [2024] FCA 1309
COSTS -- where pursuant to s 588FF(3)(b) of the Corporations Act 2001 (Cth) (the Act) the plaintiff liquidator had sought extension of time to bring applications against named respondents under s 588FF(1) of the Act with respect to any voidable transaction involving certain named person and entities -- where voidable transaction proceedings filed…
Judge: O'Callaghan J - 13 Nov 2024:
Tucker (Administrator), in the matter of True North Copper Limited (Administrators Appointed) [2024] FCA 1329
CORPORATIONS - administration - application for modification of operation of s 443A under s 447A of the Corporations Act 2001 (Cth) and s 90-15 of the Insolvency Practice Schedule (Corporations) - where holding company of a group of entities - where funding necessary to ensure that group of companies may pay debts and continue to trade during…
Judge: Banks-smith J - 11 Nov 2024:
Iris Energy Ltd v PricewaterhouseCoopers Inc in its capacity as foreign representative of IE CA 3 Holdings Ltd [2024] FCA 1297
PRACTICE AND PROCEDURE - stay pending appeal - where orders were made under the UNCITRAL Model Law on Cross-Border Insolvency granting powers of a liquidator in Australia to the local representatives of a trustee of foreign liquidations, including the power to examine witnesses - where Iris Energy Ltd as intervenor in that proceeding seeks a stay…
Judge: Stewart J - 11 Nov 2024:
ISPT Pty Ltd, in the matter of ISPT Pty Ltd [2024] FCA 1305
CORPORATIONS - members' scheme of arrangement - first court hearing - order sought under s 411(1) of the Corporations Act 2001 (Cth) - scheme consideration - the question of voting classes - the quantum of the reimbursement and reverse reimbursement fees - the length of the exclusivity period - the relevance of the condition subsequent - orders…
Judge: Beach J
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