Gollant, in the matter of OT Markets Pty Ltd (in liquidation) [2020] FCA 207

Gollant, in the matter of OT Markets Pty Ltd (in liquidation) [2020] FCA 207

The Court was satisfied that the liquidations were sufficiently interconnected that information sharing between the separately appointed liquidators was justified and would avoid incomplete information, delay and additional costs, while a court order would authorise use or disclosure of likely personal information under APP 6.2(b). Given the significant number of creditors, the limited postal addresses available, historic email communications, and the permissive nature of s 600G, the Court considered it appropriate to permit future creditor communications by email or other available methods and to validate prior email notices and the related remuneration resolutions.

Jurisdiction
Australia
Judgment Date
17 February 2020
Procedural Posture
Application by Liquidators for Orders and Directions in Corporations and Corporate Insolvency Matters / Orders and Directions Made
Outcome
Orders and declarations sought by the liquidators were made.
Legal Topics
["liquidators' Directions" 'sharing of Information Between Liquidators' 'personal Information and Australian Privacy Principles' 'notices, Reports and Communications to Creditors' 'validation of Creditor Notices and Remuneration Resolutions']
['corporations' 'corporate Insolvency' 'privacy'] ["liquidators' Directions" 'sharing of Information Between Liquidators' 'personal Information and Australian Privacy Principles' 'notices, Reports and Communications to Creditors' 'validation of Creditor Notices and Remuneration Resolutions']

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Procedural Posture

Application by Liquidators for Orders and Directions in Corporations and Corporate Insolvency Matters / Orders and Directions Made

Legal Issues

  1. 1 ['Whether the liquidators of OT Markets Pty Ltd, AGM Markets Pty Ltd and Ozifin Tech Pty Ltd should be justified in sharing relevant information, including likely personal information, between themselves in connection with Federal Court Proceeding VID 126 of 2018 and the winding up of the companies.' 'Whether a court order should authorise the use or disclosure of personal information for the purposes of APP 6.2(b) in Sch 1 to the Privacy Act 1988 (Cth).' "Whether future notices, reports and communications to creditors may validly be given by email to creditor email addresses retained in the companies' records, or otherwise by prepaid post or facsimile transmission." 'Whether notices, reports and communications previously sent by email should be validated and whether resulting creditor resolutions approving remuneration and expenses should be declared valid and effectual.']

Ratio Decidendi

The Court was satisfied that the liquidations were sufficiently interconnected that information sharing between the separately appointed liquidators was justified and would avoid incomplete information, delay and additional costs, while a court order would authorise use or disclosure of likely personal information under APP 6.2(b). Given the significant number of creditors, the limited postal addresses available, historic email communications, and the permissive nature of s 600G, the Court considered it appropriate to permit future creditor communications by email or other available methods and to validate prior email notices and the related remuneration resolutions.

Court Disposition

Orders and declarations sought by the liquidators were made.

Orders

  • ['The First, Second and Third Plaintiffs were justified in sharing relevant information between themselves, including likely personal information of individuals who were investors or related to investors of the companies, in connection with Federal Court Proceeding VID 126 of 2018 and the winding up of the...