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
- 20 Dec 2024:
Walker (Administrator), in the matter of Goldin Australia Pty Ltd (Administrators Appointed) [2024] FCA 1518
CORPORATIONS - application for extension of time to convene second meeting of creditors - ss 439A and 447A of the Corporations Act 2001 (Cth) - administrators appointed - application pursuant to s 57 of the Federal Court of Australia Act 1976 (Cth) to appoint administrators as receivers and managers of trust property - orders made
Judge: Shariff J - 20 Dec 2024:
Goodin, in the matter of Goodin [2024] FCA 1512
BANKRUPTCY AND INSOLVENCY - application under s 180 of the Bankruptcy Act 1966 (Cth) to accept the resignation of a trustee of the regulated debtors' estates and for the subsequent appointment of a replacement registered trustee in bankruptcy - application pursuant to r 1.34 of the Federal Court Rules 2011 (Cth) to dispense with the requirements…
Judge: McEvoy J - 20 Dec 2024:
Australian Securities and Investments Commission v ALAMMC Developments Pty Ltd (No 2) [2024] FCA 1505
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 …
Judge: O'Sullivan J - 20 Dec 2024:
Australian Securities and Investments Commission v Union Standard International Group Pty Ltd (No 4) [2024] FCA 1481
CORPORATIONS - where defendants USG, EuropeFX and TradeFred offered risky financial products known as contracts for difference (CFDs) and margin foreign exchange contracts (Margin FX contracts) - where USG was licensed to provide general financial product advice under its Australian Financial Service License (AFSL) - where USG authorised EuropeFX…
Judge: Wigney J - 19 Dec 2024:
Eumundi Group Limited, in the matter of Eumundi Group Limited [2024] FCA 1510
CORPORATIONS - 'takeover' member scheme of arrangement - interlocutory application for orders to convene a meeting between a company and its members under s 411(1) of the Corporations Act 2001 (Cth) - summary of applicable principles - concurrent off-market takeover offer and proposed scheme of arrangement - consideration of dual structure…
Judge: Feutrill J - 19 Dec 2024:
Hodgson (Liquidator), in the matter of Advanced Traffic Management (WA) Pty Ltd (in liq) [2024] FCA 1504
CORPORATIONS - liquidation - application for directions as to sale by liquidators of unclaimed property - orders made
Judge: Banks-smith J - 18 Dec 2024:
Lucky v Ives (Winding Up Application) [2024] FCA 1501
COSTS - application for indemnity costs - where applicants sought orders that company be wound up on the just and equitable ground - where it is agreed between the parties that the originating process should be dismissed - where respondents opposition to the winding up was baseless - where first respondent resigned as a director on the afternoon…
Judge: Jackman J - 18 Dec 2024:
Fitzpatrick v Isaacs (No 2) [2024] FCA 1454
COSTS - costs following review of Registrar's decision - where Registrar ordered security for costs against two plaintiffs - where security only ordered against one plaintiff on review - whether costs should be in the cause
Judge: Derrington J - 18 Dec 2024:
Spring, in the matter of Goal Group Australia Pty Ltd (Administrators Appointed) (No 2) [2024] FCA 1494
BANKRUPTCY AND INSOLVENCY - where company identified and managed potential recoveries for clients in securities class actions - whether liquidators justified in causing payment of amounts received on behalf of clients - whether liquidators justified in treating commission as beneficially owned by company
Judge: Jackman J - 18 Dec 2024:
Deputy Commissioner of Taxation v ACN 152 259 839 Pty Ltd [2024] FCA 1489
CORPORATIONS - insolvency - statutory demand - application for review of decision of a Registrar - where the Registrar made a winding up order in respect of the defendant - service - where statutory demand served by leaving it at the registered office of the defendant - where the glass front door of the registered office was locked and the office…
Judge: Moshinsky J
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