In the matter of Addstone Pty Ltd (in liq) Macks, Peter Ivan [1998] FCA 1680

In the matter of Addstone Pty Ltd (in liq) Macks, Peter Ivan [1998] FCA 1680

The creditor applicants were entitled to receive the affidavits sworn by the liquidator on 17 and 20 February 1998 and the exhibits relied on for the funding-arrangement directions, but the liquidator could mask or remove material he regarded as confidential. It was unnecessary to impose the liquidator's proposed express use restriction because disclosure under the Court's order was equivalent to discovery and carried the implied undertaking that the documents not be used except for any application under the liberty to apply and not for a collateral purpose.

Jurisdiction
Australia
Judgment Date
23 December 1998
Procedural Posture
Notice of Motion in Liquidation Proceedings Concerning Access to Confidential Material Filed on an Application for Directions Under S 479(3) of the Corporations Law / Orders Made Requiring Service of Affidavits and Exhibits With Permitted Redactions; Liberty to Apply
Outcome
Application allowed in part; disclosure ordered with confidentiality redactions and liberty to apply.
Legal Topics
['liquidator Powers Under S 477(2)(c) of the Corporations Law' 'court Directions Under S 479(3) of the Corporations Law' "creditors' Control Rights Under S 477(6) of the Corporations Law" 'confidential Documents' 'implied Undertaking as to Use of Documents' 'funding Arrangements for Litigation']
['corporations Law' 'insolvency' 'practice and Procedure'] ['liquidator Powers Under S 477(2)(c) of the Corporations Law' 'court Directions Under S 479(3) of the Corporations Law' "creditors' Control Rights Under S 477(6) of the Corporations Law" 'confidential Documents' 'implied Undertaking as to Use of Documents' 'funding Arrangements for Litigation']

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Procedural Posture

Notice of Motion in Liquidation Proceedings Concerning Access to Confidential Material Filed on an Application for Directions Under S 479(3) of the Corporations Law / Orders Made Requiring Service of Affidavits and Exhibits With Permitted Redactions; Liberty to Apply

Legal Issues

  1. 1 ['Whether creditor applicants should be given access to affidavit material and exhibits relied on by the liquidator in obtaining directions approving a proposed funding arrangement.' 'Whether material previously sealed or dealt with in camera should be disclosed to creditors subject to confidentiality redactions.' "Whether the Court should impose an express condition that disclosed material be used only in the recipients' capacity as creditors and not as defendants in Supreme Court proceedings."]

Ratio Decidendi

The creditor applicants were entitled to receive the affidavits sworn by the liquidator on 17 and 20 February 1998 and the exhibits relied on for the funding-arrangement directions, but the liquidator could mask or remove material he regarded as confidential. It was unnecessary to impose the liquidator's proposed express use restriction because disclosure under the Court's order was equivalent to discovery and carried the implied undertaking that the documents not be used except for any application under the liberty to apply and not for a collateral purpose.

Court Disposition

Application allowed in part; disclosure ordered with confidentiality redactions and liberty to apply.

Orders

  • ['Peter Ivan Macks ("the liquidator") file and serve on Glenmore Park Estate Ltd (formerly EFG Finance Ltd), Elfic Ltd and Lensworth Properties Pty Ltd by their solicitors copies of his affidavits sworn on 17 and 20 February 1998 and the exhibits to those affidavits, save that the liquidator may by masking or by...