Gothard v Fell, in the matter of Allco Finance Group Ltd (receivers and managers appointed) (in liq) [2012] FCA 495

Gothard v Fell, in the matter of Allco Finance Group Ltd (receivers and managers appointed) (in liq) [2012] FCA 495

Special circumstances exist to justify releasing the receivers and relevant persons from confidentiality undertakings restricting use of ASIC examination transcripts and related documents, as the purpose aligns with the statutory objectives of Part 5.9 Corporations Act to pursue proceedings against those potentially contributing to Allco’s collapse; the receivers, as eligible applicants, stand in the shoes of the company and are entitled to use this material for considering and, if fit, commencing such proceedings. The undertakings in question do not preclude court variation, and the breadth of proposed use is justified in these circumstances.

Jurisdiction
Australia
Judgment Date
15 May 2012
Procedural Posture
Corporations Application for Release From Confidentiality Undertakings (interlocutory) / Judgment on Application for Release From Confidentiality Undertakings
Outcome
Application granted.
Legal Topics
['compulsory Examinations' 'confidentiality Undertakings' 'use of Examination Transcripts' 'part 5.9 Corporations Act' 'special Circumstances Test']
['corporations Law' 'practice and Procedure'] ['compulsory Examinations' 'confidentiality Undertakings' 'use of Examination Transcripts' 'part 5.9 Corporations Act' 'special Circumstances Test']

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Procedural Posture

Corporations Application for Release From Confidentiality Undertakings (interlocutory) / Judgment on Application for Release From Confidentiality Undertakings

Legal Issues

  1. 1 ['Whether special circumstances exist to release the receivers and others from confidentiality undertakings regarding ASIC examination material for the purpose of potential proceedings against former directors under the Corporations Act and/or general law.']

Ratio Decidendi

Special circumstances exist to justify releasing the receivers and relevant persons from confidentiality undertakings restricting use of ASIC examination transcripts and related documents, as the purpose aligns with the statutory objectives of Part 5.9 Corporations Act to pursue proceedings against those potentially contributing to Allco’s collapse; the receivers, as eligible applicants, stand in the shoes of the company and are entitled to use this material for considering and, if fit, commencing such proceedings. The undertakings in question do not preclude court variation, and the breadth of proposed use is justified in these circumstances.

Court Disposition

Application granted.

Orders

  • ['The applicant is released from any implied undertaking regarding use of the RAML Database for considering and potentially instituting proceedings against the respondents in relation to the Rubicon Transaction.' 'Persons named in Schedule 3 to the amended interlocutory application are released from confidentiality...