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
- 22 Jul 2024:
Alumina Limited, in the matter of Alumina Limited [2024] FCA 806
CORPORATIONS - scheme of arrangement - scheme concerning acquisition of shares - second court hearing - where s 411(4) of the Corporations Act 2001 (Cth) satisfied - US Securities Act of 1933 (US) exemption - approval granted - orders for approval of scheme and exemption from requirement in s 411(11) of the Corporations Act 2001 (Cth)
Judge: McElwaine J - 19 Jul 2024:
Morelli (liquidator), in the matter of FW Projects Pty Limited (in liq) v White Hills Pty Limited [2024] FCA 789
CORPORATIONS - application for judicial advice pursuant to s 90-15 and s 90-20 of the Insolvency Practice Schedule (Corporations) in Sch 2 of the Corporations Act 2001 (Cth) as to the treatment of levies issued by a strata building management committee that arose after the company went into liquidation and receivers appointed over real property…
Judge: Halley J - 18 Jul 2024:
Colley, in the matter of PF Group Holdings Pty Ltd (Administrators Appointed) [2024] FCA 792
CORPORATIONS - application for extension of time to convene second meeting of creditors - ss 439A and 447A of the Corporations Act 2001 (Cth) - administrators appointed - discretion exercised to extend time to convene second meeting of creditors
Judge: Shariff J - 15 Jul 2024:
Liberty Oil Convenience Pty Ltd v Golden Roo Company Ltd [2024] FCA 757
COSTS - Statutory demand - where defendants ultimately did not oppose the making of orders setting aside statutory demands - relevant principles regarding order for costs where there has been no hearing on the merits - where the defendants effectively surrendered or capitulated - where the plaintiff would have likely succeeded at hearing - where…
Judge: Wigney J - 12 Jul 2024:
MIB Family Holdings Pty Ltd as trustee for the MIB Holdings Discretionary Trust, in the matter of Gaston Resources Pty Ltd [2024] FCA 801
CORPORATIONS - extension of time for registration of collateral on PPSR - where solicitors held standing instructions to attend to registration but did not turn their mind to the statutory requirement - whether failure to register collateral earlier was accidental or inadvertent - whether failure to register collateral earlier is not of such a…
Judge: Jackman J - 10 Jul 2024:
MMA Offshore Limited, in the matter of MMA Offshore Limited (No 2) [2024] FCA 765
CORPORATIONS - scheme of arrangement - second Court hearing - application under s 411(4)(b) of the Corporations Act 2001 (Cth) to approve scheme - consideration of factors relevant to Court's discretion to approve - scheme approved
Judge: Colvin J - 5 Jul 2024:
Xu, in the matter of Sydney Carlingford Pty Ltd (Administrators Appointed) [2024] FCA 799
BANKRUPTCY AND INSOLVENCY - appointment as receivers of trust assets - entitlement to pay costs, expenses and remuneration
Judge: Jackman J - 5 Jul 2024:
North Shore Property Developments Pty Ltd (in liq) v Haddad [2024] FCA 728
PRACTICE AND PROCEDURE - application for security for costs - where applicants are liquidator and company in liquidation - where deed of indemnity between liquidator and Deputy Commissioner of Taxation (DCT) as main creditor of company - whether deed of indemnity sufficient to ensure payment in event of adverse costs order against both applicants…
Judge: Kennett J - 5 Jul 2024:
R&B Investments Pty Ltd (Trustee) v Blue Sky (Reserved Question) [2024] FCAFC 89
REPRESENTATIVE PROCEEDINGS - open class securities class action consolidated on terms - pending application for approval of notice to group members prior to opt-out - where common fund order proposed which would provide for the distribution of funds to a solicitor otherwise than as payment for costs and disbursements incurred in relation to the…
Judge: Murphy, Beach, Lee JJ - 4 Jul 2024:
Chou, in the matter of APR Detailed Joinery Pty Ltd (in liq) [2024] FCA 798
BANKRUPTCY AND INSOLVENCY - appointment as receivers of trust assets - entitlement to pay costs, expenses and remuneration
Judge: Jackman J
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