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
- 17 Jan 2025:
Masters v Lombe (liquidator), in the matter of Babcock & Brown Limited (in liq) (Application to vary timetable) [2025] FCA 9
PRACTICE AND PROCEDURE - application on the papers to vary timetable for reference to inquire into lump sum costs determinations by Judicial Registrar acting as a Referee - no question of principle - application successful in limited respect.
Judge: Cheeseman J - 15 Jan 2025:
Chopsonion Pty Ltd (Controllers Appointed) v Watts Meat Machinery Pty Ltd (No 2) [2025] FCA 4
SAD 109 of 2020 CORPORATIONS -- breach of director's/officer's duties -- one shadow director/shadow officer -- one registered director and officer of the first applicant -- where directors not a party to the proceedings -- where directors breached duty to act in good faith, in the best interest of corporation and for a proper purpose -- duty not…
Judge: O'Sullivan J - 9 Jan 2025:
Ligon 158 Pty Limited (in liq) v Shield Holdings Australia Pty Ltd (in liq) (Special Purpose Liquidator) [2025] FCA 3
CORPORATIONS - application for appointment of an additional (special purpose) liquidator - where the proposed special purpose liquidator is the general purpose liquidator of other related corporate entities - where the proposed special purpose liquidator brought a successful application to reinstate the company to the register and have it wound up …
Judge: Cheeseman J - 6 Jan 2025:
Australian Securities and Investments Commission v Marco (No 18) (Funding Agreement Approval) [2025] FCA 1
CORPORATIONS - special purpose receivers of unregistered managed investment scheme - special purpose liquidators of an operator of the scheme - application for Court approval of and directions concerning special purpose receivers and special purpose liquidators entering into litigation funding agreement PRACTICE AND PROCEDURE - application for…
Judge: Feutrill J - 23 Dec 2024:
Chu v Lin, in the matter of Gold Stone Capital Pty Ltd (No 8) [2024] FCA 1520
PRACTICE AND PROCEDURE - application for an expansion of an existing freezing order so as to prevent building work being undertaken on the subject property - no issue as to the existence of an arguable case or the adequacy of the undertaking proffered - balance of convenience favours the expansion of the existing order
Judge: Goodman J - 23 Dec 2024:
York, in the matter of Exactech, Inc [2024] FCA 1522
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…
Judge: Halley 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:
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:
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:
Deputy Commissioner of Taxation v ACN 152 259 839 Pty Ltd (formerly Maxcon Developments Pty Ltd) (No 2) [2024] FCA 1516
CORPORATIONS-insolvency-application to stay the effect of a winding up order to permit appeal-no proper basis disclosed-hopelessly insolvent company-stay application dismissed
Judge: McElwaine 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.
